Shorepath Capital Management LLC Buys Shares of 26,568 The Goldman Sachs Group, Inc. (NYSE:GS)

Shorepath Capital Management LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,568 shares of the investment management company’s stock, valued at approximately $10,249,000. The Goldman Sachs Group accounts for approximately 9.1% of Shorepath Capital Management LLC’s investment portfolio, making the stock its biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GS. Norges Bank bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $1,120,119,000. Morgan Stanley increased its stake in The Goldman Sachs Group by 7.8% in the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after buying an additional 412,383 shares in the last quarter. Capital World Investors raised its holdings in The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after acquiring an additional 338,181 shares during the period. Bank of Nova Scotia raised its holdings in The Goldman Sachs Group by 231.1% during the fourth quarter. Bank of Nova Scotia now owns 427,640 shares of the investment management company’s stock valued at $164,964,000 after acquiring an additional 298,479 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after purchasing an additional 274,989 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a report on Tuesday, April 16th. BMO Capital Markets lifted their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. HSBC increased their price objective on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, Edward Jones initiated coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $440.57.

Insider Activity at The Goldman Sachs Group

In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Trading Up 0.0 %

Shares of NYSE GS traded up $0.11 during midday trading on Friday, hitting $446.46. The company’s stock had a trading volume of 1,559,064 shares, compared to its average volume of 1,947,240. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $471.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The firm has a market cap of $143.97 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.90 and a beta of 1.39. The business’s 50 day moving average is $439.28 and its two-hundred day moving average is $403.21.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $8.79 earnings per share. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 36.57 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

The Goldman Sachs Group Profile

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.