The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Lowered by SouthState Corp

SouthState Corp lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,644 shares of the investment management company’s stock after selling 44 shares during the quarter. SouthState Corp’s holdings in The Goldman Sachs Group were worth $1,648,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Aveo Capital Partners LLC lifted its stake in The Goldman Sachs Group by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company’s stock valued at $269,000 after purchasing an additional 53 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of The Goldman Sachs Group by 14.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,934 shares of the investment management company’s stock worth $746,000 after acquiring an additional 248 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of The Goldman Sachs Group by 4.1% during the 4th quarter. Private Advisor Group LLC now owns 18,514 shares of the investment management company’s stock worth $7,142,000 after acquiring an additional 737 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth $7,165,000. Finally, Bogart Wealth LLC raised its position in shares of The Goldman Sachs Group by 7.5% during the fourth quarter. Bogart Wealth LLC now owns 12,544 shares of the investment management company’s stock worth $4,839,000 after purchasing an additional 877 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction dated 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 sale, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of 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. In the last three months, insiders have sold 4,013,500 shares of company stock worth $32,181,365. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Down 0.4 %

GS traded down $1.74 during mid-day trading on Thursday, hitting $488.90. The stock had a trading volume of 349,104 shares, compared to its average volume of 2,259,610. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The firm has a market capitalization of $157.65 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 0.79 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day simple moving average is $487.95 and its 200-day simple moving average is $446.81.

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

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $3.00 per share. 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 ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Oppenheimer increased their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. UBS Group upped their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays lifted their price objective on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average price target of $495.94.

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.