Guardian Capital Advisors LP Sells 2,775 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by Defense World Staff on Jun 13th, 2023

Guardian Capital Advisors LP reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 77.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 800 shares of the investment management company’s stock after selling 2,775 shares during the period. Guardian Capital Advisors LP’s holdings in The Goldman Sachs Group were worth $296,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Visionary Wealth Advisors boosted its holdings in The Goldman Sachs Group by 2.3% during the 3rd quarter. Visionary Wealth Advisors now owns 1,262 shares of the investment management company’s stock valued at $370,000 after acquiring an additional 28 shares during the period. Magnus Financial Group LLC boosted its stake in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Magnus Financial Group LLC now owns 2,933 shares of the investment management company’s stock valued at $1,007,000 after purchasing an additional 28 shares during the period. Aviance Capital Partners LLC grew its holdings in shares of The Goldman Sachs Group by 0.6% in the fourth quarter. Aviance Capital Partners LLC now owns 4,866 shares of the investment management company’s stock worth $1,671,000 after purchasing an additional 28 shares during the last quarter. Platform Technology Partners increased its stake in The Goldman Sachs Group by 0.7% in the 4th quarter. Platform Technology Partners now owns 4,218 shares of the investment management company’s stock worth $1,449,000 after buying an additional 29 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its holdings in The Goldman Sachs Group by 1.4% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,040 shares of the investment management company’s stock valued at $701,000 after buying an additional 29 shares in the last quarter. 69.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Bank of America boosted their price target on The Goldman Sachs Group from $384.00 to $425.00 in a report on Thursday, March 9th. Credit Suisse Group reissued an “outperform” rating and set a $410.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, April 11th. Barclays lowered their price objective on shares of The Goldman Sachs Group from $495.00 to $437.00 and set an “overweight” rating for the company in a research note on Wednesday, April 12th. Wells Fargo & Company cut their target price on shares of The Goldman Sachs Group from $420.00 to $390.00 and set an “overweight” rating on the stock in a research report on Monday, April 3rd. Finally, Oppenheimer lowered their price target on shares of The Goldman Sachs Group from $440.00 to $437.00 and set an “outperform” rating for the company in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $389.17.

The Goldman Sachs Group Stock Up 1.0 %

The Goldman Sachs Group stock opened at $339.49 on Tuesday. The business has a fifty day moving average price of $329.53 and a 200-day moving average price of $343.82. The Goldman Sachs Group, Inc. has a 1-year low of $277.84 and a 1-year high of $389.58. The stock has a market capitalization of $112.86 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.90 and a beta of 1.41. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.81 and a quick ratio of 0.81.

The Goldman Sachs Group (NYSE:GS – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The investment management company reported $8.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.14 by $0.65. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $12.66 billion. The Goldman Sachs Group had a net margin of 13.23% and a return on equity of 9.84%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.76 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 31.57 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 1st will be paid a dividend of $2.50 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.95%. The Goldman Sachs Group’s payout ratio is currently 35.60%.

Insider Activity

In related news, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $337.66, for a total value of $1,012,980.00. Following the completion of the transaction, the insider now owns 15,052 shares in the company, valued at approximately $5,082,458.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 24,819,473 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $21.61, for a total value of $536,348,811.53. Following the sale, the insider now owns 110,337 shares in the company, valued at $2,384,382.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $337.66, for a total transaction of $1,012,980.00. Following the transaction, the insider now directly owns 15,052 shares of the company’s stock, valued at approximately $5,082,458.32. The disclosure for this sale can be found here. Insiders have sold 24,935,026 shares of company stock valued at $541,703,318 over the last ninety days. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group Profile

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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 resale agreements.