Corebridge Financial Inc. reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,147 shares of the investment management company's stock after selling 3,911 shares during the period. Corebridge Financial Inc.'s holdings in The Goldman Sachs Group were worth $41,313,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GS. Stephens Consulting LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth about $26,000. Asset Planning Inc purchased a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Curio Wealth LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $30,000. Truvestments Capital LLC purchased a new position in shares of The Goldman Sachs Group during the third quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $34,000. Institutional investors own 71.21% of the company's stock.
Insider Transactions at The Goldman Sachs Group
In other The Goldman Sachs Group news, Treasurer Carey Halio sold 3,640 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $636.74, for a total value of $2,317,733.60. Following the transaction, the treasurer now directly owns 4,552 shares of the company's stock, valued at approximately $2,898,440.48. This trade represents a 44.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the sale, the insider now directly owns 3,545 shares of the company's stock, valued at $2,255,506.25. The trade was a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock worth $12,630,683 over the last three months. 0.54% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms recently weighed in on GS. Wells Fargo & Company reiterated an "overweight" rating on shares of The Goldman Sachs Group in a report on Friday, February 28th. Morgan Stanley lowered their target price on The Goldman Sachs Group from $782.00 to $659.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Hsbc Global Res cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Oppenheimer lowered The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 19th. Finally, UBS Group upped their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $593.27.
Check Out Our Latest Stock Analysis on The Goldman Sachs Group
The Goldman Sachs Group Stock Up 1.0 %
NYSE GS traded up $6.06 during mid-day trading on Tuesday, reaching $586.16. The stock had a trading volume of 1,874,499 shares, compared to its average volume of 2,241,621. The stock has a market cap of $182.90 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group, Inc. has a 1 year low of $387.12 and a 1 year high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company has a fifty day moving average price of $611.53 and a 200 day moving average price of $570.61.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. During the same period in the prior year, the company posted $5.48 earnings per share. The company's quarterly revenue was up 22.5% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.
The Goldman Sachs Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group's payout ratio is presently 29.59%.
The Goldman Sachs Group Company Profile
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Free Report)
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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