Fortitude Family Office LLC Invests $419,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Fortitude Family Office LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,086 shares of the investment management company’s stock, valued at approximately $419,000.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at $759,531,000. Morgan Stanley increased its holdings in The Goldman Sachs Group by 40.0% in the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after purchasing an additional 1,696,350 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in The Goldman Sachs Group by 168,772.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after purchasing an additional 1,243,852 shares during the period. Comerica Bank acquired a new stake in The Goldman Sachs Group in the second quarter valued at $2,300,710,000. Finally, Congress Wealth Management LLC DE increased its holdings in The Goldman Sachs Group by 27,076.5% in the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after purchasing an additional 650,918 shares during the period. 69.06% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 4.3 %

Shares of GS traded up $17.13 on Thursday, reaching $413.60. The company’s stock had a trading volume of 4,610,905 shares, compared to its average volume of 2,371,352. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.29. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $414.02. The stock has a market capitalization of $134.23 billion, a PE ratio of 18.13, a PEG ratio of 1.51 and a beta of 1.42. The firm has a fifty day moving average of $385.50 and a 200-day moving average of $354.55.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $1.86. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The company had revenue of $11.32 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the business posted $3.32 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities analysts predict that The Goldman Sachs Group, Inc. will post 32.79 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be paid a $2.75 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $11.00 annualized dividend and a yield of 2.66%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 48.20%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the sale, the insider now owns 10,121 shares of the company’s stock, valued at approximately $3,809,443.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,907 shares of company stock worth $15,080,021. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GS shares. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $421.00 to $424.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer cut their price target on shares of The Goldman Sachs Group from $506.00 to $446.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group upped their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $333.00 to $449.00 in a research report on Tuesday, January 30th. Finally, BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $357.00 to $360.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $406.87.

View Our Latest Report on GS

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

See Also

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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