Truist Financial Corp Lowers Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Truist Financial Corp reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 208,226 shares of the investment management company’s stock after selling 1,216 shares during the quarter. Truist Financial Corp owned approximately 0.07% of The Goldman Sachs Group worth $119,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stephens Consulting LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $26,000. Asset Planning Inc bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $29,000. West Branch Capital LLC bought a new stake in shares of The Goldman Sachs Group in the third quarter valued at about $30,000. DT Investment Partners LLC raised its holdings in shares of The Goldman Sachs Group by 110.0% in the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of The Goldman Sachs Group in the third quarter valued at about $34,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $661.56 on Monday. The Goldman Sachs Group, Inc. has a fifty-two week low of $379.14 and a fifty-two week high of $663.87. The firm has a market capitalization of $205.38 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.91 and a beta of 1.39. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s 50-day simple moving average is $605.16 and its 200-day simple moving average is $552.61.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.48 earnings per share. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 1.81%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 3,640 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $636.74, for a total value of $2,317,733.60. Following the sale, the treasurer now owns 4,552 shares in the company, valued at approximately $2,898,440.48. This represents a 44.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares in the company, valued at approximately $72,015,903.53. This represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock worth $19,692,543 over the last quarter. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays lifted their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, UBS Group boosted their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average target price of $591.06.

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.