Truist Financial Corp Raises Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Truist Financial Corp grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 563,989 shares of the investment management company’s stock after acquiring an additional 16,996 shares during the quarter. Truist Financial Corp’s holdings in The Goldman Sachs Group were worth $255,103,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group during the second quarter worth $26,000. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. lifted its stake in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the period. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GS shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Evercore ISI lifted their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Barclays upped their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Finally, BMO Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $496.44.

The Goldman Sachs Group Trading Down 0.7 %

Shares of NYSE:GS opened at $495.11 on Tuesday. The company has a market capitalization of $159.66 billion, a PE ratio of 19.33, a P/E/G ratio of 0.78 and a beta of 1.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The business’s fifty day simple moving average is $492.41 and its 200-day simple moving average is $459.74.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $3.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend was Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.42%. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 approximately $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Company Profile

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.