Nordea Investment Management AB Boosts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Nordea Investment Management AB lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 30.3% during the fourth quarter, Holdings Channel reports. The fund owned 213,605 shares of the investment management company’s stock after purchasing an additional 49,710 shares during the quarter. Nordea Investment Management AB’s holdings in The Goldman Sachs Group were worth $122,453,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Procyon Advisors LLC raised its position in shares of The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management boosted its stake in The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new position in The Goldman Sachs Group during the 2nd quarter worth $5,529,000. Principal Financial Group Inc. increased its position in shares of The Goldman Sachs Group by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 364,276 shares of the investment management company’s stock worth $180,357,000 after purchasing an additional 7,644 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after purchasing an additional 161,133 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on GS shares. Citigroup boosted their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods upped their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group reissued a “neutral” rating and set a $610.00 target price on shares of The Goldman Sachs Group in a report on Monday. Finally, HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $569.31.

The Goldman Sachs Group Stock Performance

GS stock opened at $584.22 on Tuesday. The company has a market capitalization of $183.39 billion, a P/E ratio of 17.14, a PEG ratio of 0.85 and a beta of 1.38. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a 50-day simple moving average of $579.47 and a 200 day simple moving average of $522.58. The Goldman Sachs Group, Inc. has a fifty-two week low of $372.07 and a fifty-two week high of $612.73.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the firm posted $5.47 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 2nd were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock valued at $13,717,979 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

About The Goldman Sachs Group

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.