Allworth Financial LP Reduces Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by Defense World Staff on Mar 24th, 2023

Allworth Financial LP decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,411 shares of the investment management company’s stock after selling 787 shares during the quarter. Allworth Financial LP’s holdings in The Goldman Sachs Group were worth $1,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GS. Rosenberg Matthew Hamilton boosted its holdings in The Goldman Sachs Group by 8.0% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,003 shares of the investment management company’s stock valued at $294,000 after acquiring an additional 74 shares during the period. Asset Management One Co. Ltd. boosted its holdings in The Goldman Sachs Group by 3.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 212,517 shares of the investment management company’s stock valued at $62,278,000 after acquiring an additional 6,368 shares during the period. Investment Partners LTD. boosted its holdings in The Goldman Sachs Group by 66.6% during the 3rd quarter. Investment Partners LTD. now owns 2,186 shares of the investment management company’s stock valued at $641,000 after acquiring an additional 874 shares during the period. Gamco Investors INC. ET AL boosted its holdings in The Goldman Sachs Group by 6.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 4,943 shares of the investment management company’s stock valued at $1,468,000 after acquiring an additional 294 shares during the period. Finally, EWG Elevate Inc. purchased a new position in The Goldman Sachs Group during the 4th quarter valued at $89,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $6.43, for a total transaction of $25,720,000.00. Following the sale, the insider now owns 17,099,784 shares in the company, valued at approximately $109,951,611.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Stock Up 0.4 %

Shares of GS stock opened at $314.85 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $277.84 and a 1-year high of $389.58. The stock’s fifty day moving average price is $351.51 and its 200 day moving average price is $345.83. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $105.10 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS – Get Rating) last posted its quarterly earnings results on Tuesday, January 17th. The investment management company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $5.25 by ($1.93). The firm had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $10.91 billion. The Goldman Sachs Group had a net margin of 16.39% and a return on equity of 10.55%. The firm’s revenue for the quarter was down 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.81 EPS. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 33.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 2nd will be paid a dividend of $2.50 per share. The ex-dividend date is Wednesday, March 1st. This represents a $10.00 annualized dividend and a yield of 3.18%. The Goldman Sachs Group’s payout ratio is presently 33.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets decreased their target price on The Goldman Sachs Group from $485.00 to $443.00 and set an “outperform” rating for the company in a research report on Wednesday, January 18th. StockNews.com assumed coverage on The Goldman Sachs Group in a research report on Thursday, March 16th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on The Goldman Sachs Group from $370.00 to $345.00 in a research report on Friday, January 6th. Wolfe Research lowered The Goldman Sachs Group from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 4th. Finally, Odeon Capital Group raised The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 target price for the company in a research report on Tuesday, January 10th. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $397.89.

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.