Gateway Investment Advisers LLC Purchases 771 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by Defense World Staff on Mar 24th, 2023

Gateway Investment Advisers LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,475 shares of the investment management company’s stock after buying an additional 771 shares during the quarter. Gateway Investment Advisers LLC’s holdings in The Goldman Sachs Group were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Goldman Sachs Group by 1.4% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 9,478,109 shares of the investment management company’s stock valued at $2,786,361,000 after buying an additional 126,277 shares during the period. Dodge & Cox raised its holdings in The Goldman Sachs Group by 0.5% in the 2nd quarter. Dodge & Cox now owns 7,708,324 shares of the investment management company’s stock worth $2,289,526,000 after purchasing an additional 37,015 shares during the period. Bank of New York Mellon Corp raised its holdings in The Goldman Sachs Group by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,764,509 shares of the investment management company’s stock worth $1,396,236,000 after purchasing an additional 52,016 shares during the period. Fisher Asset Management LLC raised its holdings in The Goldman Sachs Group by 44.3% in the 3rd quarter. Fisher Asset Management LLC now owns 4,743,628 shares of the investment management company’s stock worth $1,390,120,000 after purchasing an additional 1,456,801 shares during the period. Finally, Legal & General Group Plc raised its holdings in The Goldman Sachs Group by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 2,563,870 shares of the investment management company’s stock worth $761,526,000 after purchasing an additional 126,619 shares during the period. 69.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GS shares. StockNews.com started coverage on The Goldman Sachs Group in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group set a $410.00 price target on The Goldman Sachs Group in a research note on Wednesday, January 25th. UBS Group raised their price objective 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. Bank of America raised their price objective on The Goldman Sachs Group from $384.00 to $425.00 in a research report on Thursday, March 9th. Finally, Oppenheimer cut their price objective on The Goldman Sachs Group from $463.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $397.89.

The Goldman Sachs Group Stock Up 0.4 %

Shares of NYSE:GS opened at $314.85 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12 month low of $277.84 and a 12 month high of $389.58. The company has a 50-day moving average price of $351.51 and a 200 day moving average price of $345.83. The company has a market cap of $105.10 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.61 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS – Get Rating) last announced its quarterly earnings data on Tuesday, January 17th. The investment management company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.25 by ($1.93). The firm had revenue of $10.59 billion during the quarter, compared to the consensus estimate of $10.91 billion. The Goldman Sachs Group had a return on equity of 10.55% and a net margin of 16.39%. The firm’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same period in the previous year, the business earned $10.81 EPS. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 33.14 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 Thursday, March 30th. Stockholders of record on Thursday, March 2nd will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, March 1st. The Goldman Sachs Group’s dividend payout ratio is presently 33.27%.

Insider Activity

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $6.43, for a total transaction of $25,720,000.00. Following the completion of the sale, the insider now owns 17,099,784 shares of the company’s stock, valued at $109,951,611.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

About The Goldman Sachs Group

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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.