Truist Financial Corp Reduces Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Truist Financial Corp lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 548,443 shares of the investment management company’s stock after selling 54,701 shares during the period. Truist Financial Corp’s holdings in The Goldman Sachs Group were worth $211,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Hennessy Advisors Inc. lifted its holdings in shares of The Goldman Sachs Group by 40.0% in the 3rd quarter. Hennessy Advisors Inc. now owns 3,500 shares of the investment management company’s stock valued at $1,132,000 after buying an additional 1,000 shares during the period. Secure Asset Management LLC acquired a new position in The Goldman Sachs Group in the third quarter valued at approximately $219,000. Asset Management One Co. Ltd. boosted its position in The Goldman Sachs Group by 1.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 215,432 shares of the investment management company’s stock worth $69,707,000 after purchasing an additional 3,353 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of The Goldman Sachs Group by 5.0% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 796 shares of the investment management company’s stock worth $258,000 after purchasing an additional 38 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of The Goldman Sachs Group by 8.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 90,602 shares of the investment management company’s stock valued at $29,316,000 after purchasing an additional 7,047 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the business’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 transaction, the treasurer now owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of The Goldman Sachs Group 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 transaction, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

GS traded up $7.32 on Friday, hitting $427.37. 2,322,454 shares of the company’s stock were exchanged, compared to its average volume of 2,385,898. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $428.53. The stock has a market cap of $138.69 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.36 and a beta of 1.43. The firm has a 50-day moving average price of $400.27 and a 200-day moving average price of $370.11. 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 posted its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same period last year, the firm posted $8.79 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.39 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JMP Securities increased their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Bank of America increased their target price on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price target on The Goldman Sachs Group from $446.00 to $479.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Citigroup increased their price target on The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $445.00 to $485.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $434.93.

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.