Ballast Inc. purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free 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.
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:GS – Get 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
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.
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