Prostatis Group LLC Trims Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by Defense World Staff on Jun 18th, 2023

Prostatis Group LLC lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 742 shares of the investment management company’s stock after selling 40 shares during the quarter. Prostatis Group LLC’s holdings in The Goldman Sachs Group were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cetera Advisor Networks LLC increased its holdings in The Goldman Sachs Group by 17.8% in the 4th quarter. Cetera Advisor Networks LLC now owns 37,848 shares of the investment management company’s stock worth $12,996,000 after acquiring an additional 5,725 shares in the last quarter. Capital Asset Advisory Services LLC increased its holdings in The Goldman Sachs Group by 45.8% in the 4th quarter. Capital Asset Advisory Services LLC now owns 2,456 shares of the investment management company’s stock worth $845,000 after acquiring an additional 771 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in The Goldman Sachs Group by 2.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,529 shares of the investment management company’s stock worth $5,676,000 after acquiring an additional 430 shares in the last quarter. Aviva PLC increased its holdings in The Goldman Sachs Group by 41.3% in the 4th quarter. Aviva PLC now owns 85,716 shares of the investment management company’s stock worth $981,000 after acquiring an additional 25,038 shares in the last quarter. Finally, PDS Planning Inc purchased a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GS shares. Evercore ISI increased their target price on shares of The Goldman Sachs Group from $360.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. Royal Bank of Canada upped their price target on The Goldman Sachs Group from $339.00 to $375.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 19th. Wells Fargo & Company dropped their price target on The Goldman Sachs Group from $420.00 to $390.00 and set an “overweight” rating for the company in a research note on Monday, April 3rd. Bank of America upped their price target on The Goldman Sachs Group from $384.00 to $425.00 in a research note on Thursday, March 9th. Finally, StockNews.com started coverage on The Goldman Sachs Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $389.17.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $338.31 on Friday. The stock’s fifty day moving average is $330.93 and its 200 day moving average is $342.84. The Goldman Sachs Group, Inc. has a fifty-two week low of $277.84 and a fifty-two week high of $389.58. The firm has a market capitalization of $112.47 billion, a PE ratio of 12.04, a PEG ratio of 0.91 and a beta of 1.41. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.81 and a current ratio of 0.81.

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

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 1st will be paid a $2.50 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.96%. The Goldman Sachs Group’s payout ratio is 35.60%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 9,000,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $11.73, for a total value of $105,570,000.00. Following the sale, the insider now owns 51,676,439 shares in the company, valued at $606,164,629.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Treasurer Philip R. Berlinski sold 3,750 shares of the firm’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $338.10, for a total transaction of $1,267,875.00. Following the transaction, the treasurer now owns 21,366 shares in the company, valued at $7,223,844.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Goldman Sachs Group Inc sold 9,000,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $11.73, for a total value of $105,570,000.00. Following the transaction, the insider now owns 51,676,439 shares in the company, valued at approximately $606,164,629.47. The disclosure for this sale can be found here. Insiders have sold a total of 33,935,026 shares of company stock worth $647,273,318 over the last quarter. Company insiders own 0.54% of the company’s stock.

About The Goldman Sachs Group

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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.