First City Capital Management Inc. Raises Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

First City Capital Management Inc. raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,311 shares of the investment management company’s stock after purchasing an additional 360 shares during the quarter. First City Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $751,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GS. Van ECK Associates Corp purchased a new position in The Goldman Sachs Group in the second quarter worth approximately $2,753,000. Founders Financial Securities LLC increased its holdings in shares of The Goldman Sachs Group by 5.1% in the 2nd quarter. Founders Financial Securities LLC now owns 2,813 shares of the investment management company’s stock valued at $1,273,000 after acquiring an additional 137 shares during the period. Weaver Capital Management LLC purchased a new position in shares of The Goldman Sachs Group during the second quarter worth about $392,000. Simon Quick Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 50.0% in the second quarter. Simon Quick Advisors LLC now owns 1,308 shares of the investment management company’s stock valued at $592,000 after purchasing an additional 436 shares during the period. Finally, Larson Financial Group LLC raised its position in The Goldman Sachs Group by 78.4% during the 2nd quarter. Larson Financial Group LLC now owns 1,368 shares of the investment management company’s stock worth $619,000 after buying an additional 601 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of analyst reports. Bank of America lifted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group lifted their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Oppenheimer lowered their price target on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, JMP Securities lifted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $558.38.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,940 shares of company stock valued at $13,717,979 over the last three months. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Stock Up 0.6 %

NYSE GS traded up $3.71 during trading hours on Friday, hitting $578.68. The company had a trading volume of 770,950 shares, compared to its average volume of 1,483,771. The Goldman Sachs Group, Inc. has a fifty-two week low of $372.07 and a fifty-two week high of $612.73. The firm’s 50 day moving average is $576.91 and its 200 day moving average is $519.89. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $181.65 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 0.85 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the business posted $5.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 2nd were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

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.