The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by SouthState Corp

SouthState Corp lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,644 shares of the investment management company’s stock after selling 44 shares during the period. SouthState Corp’s holdings in The Goldman Sachs Group were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GS. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $1,903,374,000. Norges Bank purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $1,120,119,000. AMF Tjanstepension AB raised its stake in shares of The Goldman Sachs Group by 1,102.4% during the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after buying an additional 743,402 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after buying an additional 464,954 shares in the last quarter. Finally, Verity & Verity LLC grew its stake in The Goldman Sachs Group by 26,378.2% in the 1st quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock valued at $170,000 after acquiring an additional 406,224 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Down 0.4 %

Shares of The Goldman Sachs Group stock traded down $1.74 on Thursday, hitting $488.90. 349,104 shares of the company’s stock traded hands, compared to its average volume of 2,259,610. The stock has a market cap of $157.65 billion, a P/E ratio of 19.16, a PEG ratio of 0.79 and a beta of 1.36. The firm’s 50-day moving average is $487.95 and its 200 day moving average is $446.81. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.07 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.45%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Analyst Upgrades and Downgrades

GS has been the topic of several recent research reports. Oppenheimer upped their price target on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Citigroup upped their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, Barclays boosted their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $495.94.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is currently owned by 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.