Jacobi Capital Management LLC Acquires 258 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Jacobi Capital Management LLC increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GSGet Rating) by 32.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,065 shares of the investment management company’s stock after buying an additional 258 shares during the quarter. Jacobi Capital Management LLC’s holdings in The Goldman Sachs Group were worth $352,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. boosted its position in The Goldman Sachs Group by 2.5% in the fourth quarter. BlackRock Inc. now owns 23,795,472 shares of the investment management company’s stock worth $9,102,958,000 after purchasing an additional 570,001 shares during the last quarter. State Street Corp boosted its position in The Goldman Sachs Group by 2.9% in the fourth quarter. State Street Corp now owns 21,484,443 shares of the investment management company’s stock worth $8,218,874,000 after purchasing an additional 600,643 shares during the last quarter. Dodge & Cox boosted its position in The Goldman Sachs Group by 0.7% in the fourth quarter. Dodge & Cox now owns 7,303,170 shares of the investment management company’s stock worth $2,793,828,000 after purchasing an additional 52,165 shares during the last quarter. Geode Capital Management LLC boosted its position in The Goldman Sachs Group by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 5,786,188 shares of the investment management company’s stock worth $2,207,799,000 after purchasing an additional 141,980 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in The Goldman Sachs Group by 6.1% in the fourth quarter. Alliancebernstein L.P. now owns 3,911,851 shares of the investment management company’s stock worth $1,496,479,000 after purchasing an additional 225,785 shares during the last quarter. 71.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GS has been the topic of several research reports. Piper Sandler dropped their target price on The Goldman Sachs Group from $430.00 to $410.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Wells Fargo & Company lowered their price objective on The Goldman Sachs Group from $420.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Citigroup lowered their price objective on The Goldman Sachs Group from $400.00 to $360.00 in a research report on Tuesday, July 12th. Credit Suisse Group set a $415.00 price objective on The Goldman Sachs Group in a research report on Tuesday, July 19th. Finally, Morgan Stanley lowered their price target on The Goldman Sachs Group from $418.00 to $354.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus target price of $413.92.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $334.67 on Friday. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.17 and a quick ratio of 0.88. The Goldman Sachs Group, Inc. has a 1 year low of $277.84 and a 1 year high of $426.16. The stock’s 50 day simple moving average is $306.88 and its two-hundred day simple moving average is $323.78. The company has a market cap of $114.94 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 0.75 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GSGet Rating) last released its quarterly earnings data on Monday, July 18th. The investment management company reported $7.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.61 by $1.12. The Goldman Sachs Group had a return on equity of 15.48% and a net margin of 27.75%. The business had revenue of $11.86 billion for the quarter, compared to the consensus estimate of $10.70 billion. During the same quarter in the previous year, the company posted $15.02 EPS. The company’s revenue was down 22.9% compared to the same quarter last year. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 34.48 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Tuesday, July 26th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Monday, July 25th. The Goldman Sachs Group’s dividend payout ratio is currently 18.09%.

Insider Activity

In other news, Director Goldman Sachs Group Inc sold 451,401 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $20.48, for a total transaction of $9,244,692.48. Following the transaction, the director now owns 1,996,137 shares of the company’s stock, valued at approximately $40,880,885.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,320,622 shares of company stock valued at $25,684,252. 0.57% of the stock is currently owned by insiders.

About The Goldman Sachs Group

(Get Rating)

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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

Further Reading

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

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