The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 63.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,678 shares of the investment management company’s stock after selling 42,796 shares during the quarter. The Goldman Sachs Group accounts for about 1.7% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 15th largest holding. SPX Gestao de Recursos Ltda’s holdings in The Goldman Sachs Group were worth $11,162,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 3Chopt Investment Partners LLC acquired a new position in shares of The Goldman Sachs Group in the second quarter worth about $252,000. Granite Bay Wealth Management LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $5,529,000. Advisory Alpha LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $200,000. Truist Financial Corp boosted its stake in shares of The Goldman Sachs Group by 3.1% during the 2nd quarter. Truist Financial Corp now owns 563,989 shares of the investment management company’s stock valued at $255,103,000 after buying an additional 16,996 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of The Goldman Sachs Group by 1.0% during the second quarter. Pathway Financial Advisers LLC now owns 4,376 shares of the investment management company’s stock worth $1,956,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of several recent analyst reports. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Oppenheimer boosted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $496.44.

Insider Activity

In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $495.11 on Tuesday. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $159.66 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The business has a 50 day simple moving average of $492.41 and a 200 day simple moving average of $459.74.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.43 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $3.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

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.