Sen. Ted Cruz Sells The Goldman Sachs Group, Inc. (NYSE:GS) Shares

Senator Ted Cruz (R-Texas) recently sold shares of The Goldman Sachs Group, Inc. (NYSE:GS). In a filing disclosed on November 12th, the Senator disclosed that they had sold between $100,001 and $250,000 in The Goldman Sachs Group stock on November 11th.

The Goldman Sachs Group Trading Up 1.2%

The Goldman Sachs Group stock traded up $9.12 during midday trading on Wednesday, hitting $785.42. 1,517,681 shares of the stock were exchanged, compared to its average volume of 2,361,370. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23. The stock’s 50-day simple moving average is $786.05 and its 200 day simple moving average is $714.77. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $841.28. The stock has a market capitalization of $235.57 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The business had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.40 EPS. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GS shares. Evercore ISI lifted their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Barclays raised their price objective on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. BNP Paribas Exane upped their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley reduced their price target on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $786.00.

Insider Activity

In related news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the transaction, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors have recently modified their holdings of GS. Canada Pension Plan Investment Board lifted its stake in shares of The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after buying an additional 116,535 shares during the period. Ignite Planners LLC acquired a new position in The Goldman Sachs Group in the 2nd quarter valued at approximately $239,000. Bank of New York Mellon Corp raised its holdings in The Goldman Sachs Group by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock valued at $2,392,124,000 after acquiring an additional 157,473 shares in the last quarter. Blueshift Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after acquiring an additional 652 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $9,596,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

About Senator Cruz

Ted Cruz (Republican Party) is a member of the U.S. Senate from Texas. He assumed office on January 3, 2013. His current term ends on January 3, 2031.

Cruz (Republican Party) ran for re-election to the U.S. Senate to represent Texas. He won in the general election on November 5, 2024.

Cruz was born in Calgary in Alberta, Canada, where his parents were working in the Alberta oil fields. In 1974 they returned to the Houston area.

Cruz graduated from Second Baptist High School as valedictorian in 1988. He earned his B.A. in Public Policy from Princeton University in 1992. He went on to receive his J.D. from Harvard Law School in 1995. Cruz then worked in the following positions in the law field: law clerk to Chief Justice of the United States William Rehnquist, associate deputy attorney general for the U.S. Department of Justice and director of the Office of Policy Planning for the Federal Trade Commission.

Cruz served as Solicitor General of Texas from 2003 to 2008. In this role he was the youngest Solicitor General in the nation, as well as the longest-serving and first Hispanic Solicitor General in the state. Among his accomplishments, Cruz argued 40 oral arguments, including nine before the U.S. Supreme Court.

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.