Hartline Investment Corp Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Hartline Investment Corp bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 717 shares of the investment management company’s stock, valued at approximately $277,000.

Other large investors also recently made changes to their positions in the company. Congress Wealth Management LLC DE boosted its stake in The Goldman Sachs Group by 27,076.5% during the 3rd 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. Morgan Stanley boosted its stake in The Goldman Sachs Group by 7.8% during the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after purchasing an additional 412,383 shares during the period. Wellington Management Group LLP boosted its stake in The Goldman Sachs Group by 17.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,719,242 shares of the investment management company’s stock valued at $556,295,000 after purchasing an additional 255,690 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter worth approximately $64,070,000. Finally, Raymond James & Associates lifted its position in shares of The Goldman Sachs Group by 41.9% in the 4th quarter. Raymond James & Associates now owns 612,025 shares of the investment management company’s stock worth $236,101,000 after acquiring an additional 180,674 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS traded down $0.96 during trading on Wednesday, reaching $423.04. 1,568,788 shares of the stock were exchanged, compared to its average volume of 2,391,933. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $425.35. The firm has a market cap of $137.29 billion, a PE ratio of 16.52, a PEG ratio of 1.34 and a beta of 1.43. The stock has a 50-day moving average price of $397.82 and a 200-day moving average price of $368.58. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) 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 the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.79 earnings per share. Research analysts expect that The Goldman Sachs Group, Inc. will post 35.39 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company 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 $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is 42.95%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GS. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research report on Tuesday, April 16th. HSBC raised their price target on The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Barclays lifted their target price on The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Bank of America lifted their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $434.93.

Insider Activity

In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the transaction, the treasurer now directly owns 18,408 shares in the company, valued at approximately $7,190,901.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the transaction, the treasurer now directly owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

The Goldman Sachs Group Company 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.