Shell Asset Management Co. Sells 55 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by on Mar 2nd, 2023

Shell Asset Management Co. trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411 shares of the investment management company’s stock after selling 55 shares during the period. Shell Asset Management Co.’s holdings in The Goldman Sachs Group were worth $120,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GS. Centerpoint Advisors LLC acquired a new position in The Goldman Sachs Group during the 3rd quarter valued at about $26,000. NewSquare Capital LLC acquired a new position in The Goldman Sachs Group during the 3rd quarter valued at about $29,000. Paragon Wealth Strategies LLC acquired a new position in The Goldman Sachs Group during the 3rd quarter valued at about $31,000. SJS Investment Consulting Inc. acquired a new position in The Goldman Sachs Group during the 3rd quarter valued at about $32,000. Finally, IAG Wealth Partners LLC acquired a new position in The Goldman Sachs Group during the 3rd quarter valued at about $33,000. 69.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director Goldman Sachs Group Inc sold 506,359 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $21.15, for a total transaction of $10,709,492.85. Following the transaction, the director now owns 564,544 shares in the company, valued at $11,940,105.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 746,495 shares of company stock worth $15,963,886. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. UBS Group upped their target price on The Goldman Sachs Group from $325.00 to $350.00 and gave the company a “neutral” rating in a research report on Monday, January 9th. Odeon Capital Group raised The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 price objective on the stock in a report on Tuesday, January 10th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $390.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. JPMorgan Chase & Co. increased their price objective on The Goldman Sachs Group from $385.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, December 6th. Finally, Oppenheimer increased their price objective on The Goldman Sachs Group from $441.00 to $463.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $396.60.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $346.23 on Thursday. The company has a market capitalization of $116.13 billion, a P/E ratio of 11.52 and a beta of 1.41. The business’s 50 day moving average is $358.07 and its two-hundred day moving average is $347.47. The company has a current ratio of 1.18, a quick ratio of 0.84 and a debt-to-equity ratio of 2.11. The Goldman Sachs Group, Inc. has a 12-month low of $277.84 and a 12-month high of $389.58.

The Goldman Sachs Group (NYSE:GS – Get Rating) last issued its quarterly earnings results on Tuesday, January 17th. The investment management company reported $3.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.25 by ($1.93). The business had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $10.91 billion. The Goldman Sachs Group had a return on equity of 10.30% and a net margin of 16.39%. The business’s revenue for the quarter was down 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.81 EPS. Analysts expect that The Goldman Sachs Group, Inc. will post 32.73 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 2nd will be given a dividend of $2.50 per share. The ex-dividend date is Wednesday, March 1st. This represents a $10.00 dividend on an annualized basis and a yield of 2.89%. The Goldman Sachs Group’s dividend payout ratio is currently 33.27%.

The Goldman Sachs Group Company Profile

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The Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, helping companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

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

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