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

SouthState Corp reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,950 shares of the investment management company’s stock after selling 71 shares during the quarter. SouthState Corp’s holdings in The Goldman Sachs Group were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV increased its stake in The Goldman Sachs Group by 5.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 760 shares of the investment management company’s stock valued at $435,000 after purchasing an additional 36 shares during the last quarter. IMG Wealth Management Inc. acquired a new stake in The Goldman Sachs Group during the fourth quarter worth about $332,000. SlateStone Wealth LLC increased its stake in The Goldman Sachs Group by 5.9% during the fourth quarter. SlateStone Wealth LLC now owns 8,131 shares of the investment management company’s stock worth $4,656,000 after acquiring an additional 454 shares during the last quarter. GWN Securities Inc. acquired a new stake in The Goldman Sachs Group during the fourth quarter worth about $1,635,000. Finally, Corient Private Wealth LLC increased its stake in The Goldman Sachs Group by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 152,041 shares of the investment management company’s stock worth $85,442,000 after acquiring an additional 1,176 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citigroup upped their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Barclays upped their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Finally, Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $594.27.

The Goldman Sachs Group Trading Up 3.3 %

Shares of GS opened at $542.31 on Monday. The company has a market capitalization of $169.22 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group, Inc. has a one year low of $383.41 and a one year high of $672.19. 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 has a 50-day moving average price of $612.79 and a 200 day moving average price of $567.23.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly 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 during the quarter, compared to the consensus estimate 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 business posted $5.48 earnings per share. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Insider Activity at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the sale, the insider now directly owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total value of $1,275,338.34. Following the sale, the chief accounting officer now directly owns 6,455 shares in the company, valued at approximately $4,047,349.55. This represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,925 shares of company stock valued at $12,630,683. Corporate insiders own 0.54% of the company’s stock.

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.