Illumine Investment Management LLC Acquires Shares of The Goldman Sachs Group, Inc.

Illumine Investment Management LLC has established a new investment position in The Goldman Sachs Group, Inc. (NYSE:GS) during the fourth quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). The firm acquired 1,045 shares of the investment management company, with a total value of approximately $598,000.

Recent Changes in Institutional Investments

Several other institutional investors have also adjusted their holdings in The Goldman Sachs Group recently. For instance, Jackson Grant Investment Advisers Inc. increased its holdings by 10.9% during the fourth quarter, acquiring 163 shares valued at $93,000 after purchasing an additional 16 shares. Similarly, Ledyard National Bank raised its stake by 3.4%, now owning 486 shares valued at $278,000 after buying another 16 shares in the fourth quarter. Seelaus Asset Management LLC grew its shares by 2.5%, taking its total to 660 shares worth $378,000, and Pointe Capital Management LLC increased its stake by 1.0%, with ownership of 1,660 shares valued at $951,000 following an additional purchase of 16 shares. Finally, Genesee Capital Advisors LLC also boosted its position by 1.0%, now holding 1,788 shares valued at $1,024,000 after acquiring 17 more shares. Overall, institutions and hedge funds own 71.21% of the stock.

Analyst Opinions and Price Targets

Analysts have recently updated their ratings and price targets for The Goldman Sachs Group. HSBC Global Research downgraded the stock from a “strong-buy” to a “hold” rating. Wells Fargo and Company upgraded their price target from $680.00 to $720.00 while maintaining an “overweight” rating. JPMorgan Chase & Co. also raised its target from $550.00 to $605.00, similarly giving the stock an “overweight” rating. Keefe, Bruyette & Woods changed their rating from “outperform” to “market perform,” lowering their price target from $690.00 to $660.00. UBS Group increased their target to $640.00 from $610.00 while labeling the stock as “neutral.” According to MarketBeat.com, nine analysts rate the stock as a ‘hold’ while ten others recommend a ‘buy,’ resulting in a consensus rating of 'Moderate Buy' and an average price target of $591.69.

Insider Transactions

In recent insider trading news, Treasurer Carey Halio sold 3,640 shares of The Goldman Sachs Group on January 24th, at an average price of $636.74, totaling approximately $2,317,733.60. After this sale, Halio holds 4,552 shares valued at around $2,898,440.48, marking a 44.43% reduction in ownership. Additionally, insider Alex S. Golten sold 5,208 shares on January 28th for an average price of $636.25, accumulating about $3,313,590.00, thereby reducing his stake by 59.50%. In total, insiders sold 19,925 shares worth approximately $12.63 million in the past ninety days, owning 0.57% of the company's stock as of now.

Stock Performance Overview

As of Friday, GS shares opened at $607.99. The Goldman Sachs Group has a market capitalization of $189.72 billion, with a P/E ratio of 14.99 and a beta of 1.39. The stock has experienced a range, with a low of $381.42 and a high of $672.19 over the last twelve months. The company's financial results, reported on January 15th, showed earnings per share of $11.95, significantly exceeding the $8.21 consensus estimate, with a revenue of $13.87 billion compared to an expected $12.36 billion. Analysts anticipate that The Goldman Sachs Group will report earnings per share of $47.12 for the current year.

Dividend Announcement

The Goldman Sachs Group also declared a quarterly dividend, which is scheduled to be paid on March 28th. Investors on record as of February 28th will receive a dividend of $3.00 per share, reflecting an annualized dividend of $12.00 and a yield of 1.97%. Currently, the dividend payout ratio stands at 29.59%.

Company Overview

The Goldman Sachs Group, Inc. is a global financial organization offering a variety of finance-related services to corporations, financial institutions, governments, and individuals. It operates through several divisions, including Global Banking & Markets, Asset & Wealth Management, and Platform Solutions. The Global Banking & Markets segment provides a comprehensive range of financial advisory services, covering mergers and acquisitions, corporate defense activities, and structured lending.

Investment, Shares, Goldman, Management, Acquisition