Ballast Inc. Acquires New Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Ballast Inc. purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 875 shares of the investment management company’s stock, valued at approximately $478,000.

Several other hedge funds have also bought and sold shares of the stock. Meridian Wealth Management LLC grew its holdings in The Goldman Sachs Group by 6.1% during the first quarter. Meridian Wealth Management LLC now owns 1,440 shares of the investment management company’s stock valued at $787,000 after purchasing an additional 83 shares during the period. Operose Advisors LLC grew its holdings in The Goldman Sachs Group by 3.5% during the first quarter. Operose Advisors LLC now owns 2,459 shares of the investment management company’s stock valued at $1,343,000 after purchasing an additional 84 shares during the period. Independent Advisor Alliance grew its holdings in The Goldman Sachs Group by 3.3% during the first quarter. Independent Advisor Alliance now owns 7,254 shares of the investment management company’s stock valued at $3,963,000 after purchasing an additional 233 shares during the period. First American Trust FSB grew its holdings in The Goldman Sachs Group by 8.2% during the first quarter. First American Trust FSB now owns 20,720 shares of the investment management company’s stock valued at $11,320,000 after purchasing an additional 1,562 shares during the period. Finally, SouthState Corp grew its holdings in The Goldman Sachs Group by 36.3% during the first quarter. SouthState Corp now owns 4,022 shares of the investment management company’s stock valued at $2,197,000 after purchasing an additional 1,072 shares during the period. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GS. Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wells Fargo & Company increased their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Barclays reduced their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley increased their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $660.00.

Read Our Latest Stock Report on GS

Insider Buying and Selling

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares of the company’s stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,079 shares of company stock worth $14,423,221 in the last 90 days. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Up 0.3%

The Goldman Sachs Group stock opened at $721.76 on Monday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $218.49 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.53 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $737.88. The business has a fifty day moving average price of $681.52 and a 200-day moving average price of $614.05.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.62 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $4.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 26.44%.

About The Goldman Sachs Group

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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