AE Wealth Management LLC Sells 2,443 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by Defense World Staff on Jun 28th, 2023

AE Wealth Management LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,397 shares of the investment management company’s stock after selling 2,443 shares during the period. AE Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $9,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower View Investment Management & Research LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $27,000. Larson Financial Group LLC increased its position in The Goldman Sachs Group by 224.0% in the 4th quarter. Larson Financial Group LLC now owns 81 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 56 shares during the period. Sound Income Strategies LLC increased its position in The Goldman Sachs Group by 109.3% in the 4th quarter. Sound Income Strategies LLC now owns 90 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 47 shares during the period. Accurate Wealth Management LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $31,000. Finally, Elequin Securities LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $32,000. Institutional investors own 76.90% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of several recent research reports. Royal Bank of Canada upped their price target on shares of The Goldman Sachs Group from $339.00 to $375.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 19th. JPMorgan Chase & Co. decreased their price objective on shares of The Goldman Sachs Group from $430.00 to $415.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. UBS Group upgraded shares of The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 11th. Oppenheimer decreased their price objective 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. Finally, Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $329.00 to $337.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. One 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $389.17.

The Goldman Sachs Group Stock Up 0.3 %

The Goldman Sachs Group stock opened at $313.45 on Wednesday. The Goldman Sachs Group, Inc. has a 1-year low of $277.84 and a 1-year high of $389.58. The firm has a market capitalization of $104.21 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41. The firm’s fifty day moving average price is $329.52 and its two-hundred day moving average price is $340.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.25.

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 analysts’ consensus estimates of $8.14 by $0.65. The Goldman Sachs Group had a net margin of 13.23% and a return on equity of 9.84%. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $12.66 billion. During the same period last year, the firm earned $10.76 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 31.14 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, June 29th. Investors of record on Thursday, June 1st will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, May 31st. The Goldman Sachs Group’s payout ratio is currently 35.60%.

Insider Activity at The Goldman Sachs Group

In related news, major shareholder Goldman Sachs Group Inc sold 9,000,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $11.73, for a total transaction of $105,570,000.00. Following the transaction, the insider now directly owns 51,676,439 shares of the company’s stock, valued at $606,164,629.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $332.67, for a total value of $2,420,839.59. Following the sale, the insider now owns 4,334 shares of the company’s stock, valued at $1,441,791.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 9,000,000 shares of The Goldman Sachs Group stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $11.73, for a total transaction of $105,570,000.00. Following the completion of the sale, the insider now directly 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 33,833,500 shares of company stock valued at $646,620,506 over the last ninety days. Corporate 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.