Truist Financial Corp boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 603,144 shares of the investment management company’s stock after purchasing an additional 8,492 shares during the quarter. Truist Financial Corp owned about 0.18% of The Goldman Sachs Group worth $195,159,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GS. Synovus Financial Corp increased its holdings in shares of The Goldman Sachs Group by 13.7% during the second quarter. Synovus Financial Corp now owns 13,338 shares of the investment management company’s stock worth $4,302,000 after buying an additional 1,605 shares in the last quarter. First Foundation Advisors raised its position in The Goldman Sachs Group by 18.4% in the second quarter. First Foundation Advisors now owns 1,771 shares of the investment management company’s stock valued at $571,000 after purchasing an additional 275 shares during the last quarter. Savant Capital LLC boosted its stake in shares of The Goldman Sachs Group by 51.8% during the second quarter. Savant Capital LLC now owns 4,668 shares of the investment management company’s stock valued at $1,506,000 after purchasing an additional 1,592 shares in the last quarter. Operose Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 195.7% during the second quarter. Operose Advisors LLC now owns 2,215 shares of the investment management company’s stock worth $715,000 after purchasing an additional 1,466 shares during the last quarter. Finally, TBH Global Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 2.0% in the third quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock valued at $1,190,000 after buying an additional 72 shares during the period. 69.06% of the stock is owned by institutional investors and hedge funds.
The Goldman Sachs Group Stock Down 0.2 %
Shares of The Goldman Sachs Group stock traded down $0.76 during trading hours on Friday, reaching $388.29. The company’s stock had a trading volume of 794,868 shares, compared to its average volume of 2,326,405. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $396.79. The company has a market capitalization of $126.41 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.52 and a beta of 1.43. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.77 and a current ratio of 0.76. The stock’s fifty day simple moving average is $384.12 and its two-hundred day simple moving average is $348.26.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $1.86. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The company had revenue of $11.32 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the company earned $3.32 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 32.86 earnings per share for the current year.
The Goldman Sachs Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, February 28th. The Goldman Sachs Group’s payout ratio is 48.20%.
Insider Buying and Selling at The Goldman Sachs Group
In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on 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 owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares in the company, valued at $3,809,443.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,064 shares of company stock worth $15,082,153. Insiders own 0.54% of the company’s stock.
Analyst Ratings Changes
GS has been the topic of several recent research reports. Barclays lifted their target price on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Oppenheimer lifted their target price on The Goldman Sachs Group from $491.00 to $506.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $333.00 to $449.00 in a report on Tuesday, January 30th. JMP Securities restated a “market outperform” rating and issued a $440.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, January 17th. Finally, BMO Capital Markets increased their price objective on shares of The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $409.93.
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 resale agreements.
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