PFG Advisors Buys 51 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Posted by Defense World Staff on Jul 8th, 2023

PFG Advisors lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 987 shares of the investment management company’s stock after acquiring an additional 51 shares during the period. PFG Advisors’ holdings in The Goldman Sachs Group were worth $323,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kovack Advisors Inc. grew its position in The Goldman Sachs Group by 2.2% in the first quarter. Kovack Advisors Inc. now owns 2,793 shares of the investment management company’s stock valued at $914,000 after purchasing an additional 60 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in The Goldman Sachs Group by 108.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,926 shares of the investment management company’s stock worth $630,000 after acquiring an additional 1,001 shares during the period. Princeton Global Asset Management LLC increased its position in The Goldman Sachs Group by 26.5% during the first quarter. Princeton Global Asset Management LLC now owns 2,199 shares of the investment management company’s stock worth $719,000 after acquiring an additional 460 shares during the period. Daymark Wealth Partners LLC increased its position in The Goldman Sachs Group by 29.0% during the first quarter. Daymark Wealth Partners LLC now owns 3,638 shares of the investment management company’s stock worth $1,190,000 after acquiring an additional 818 shares during the period. Finally, Empire Financial Management Company LLC bought a new position in The Goldman Sachs Group during the first quarter worth about $761,000. Institutional investors own 76.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group raised shares of The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report on Tuesday, April 11th. Barclays decreased their price target on shares of The Goldman Sachs Group from $495.00 to $437.00 and set an “overweight” rating on the stock in a report on Wednesday, April 12th. JPMorgan Chase & Co. cut their target price on shares of The Goldman Sachs Group from $415.00 to $398.00 in a research report on Friday. JMP Securities upped their price objective on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Finally, BMO Capital Markets reduced their price objective on shares of The Goldman Sachs Group from $429.00 to $414.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.95.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $315.19 on Friday. The firm has a 50-day moving average of $326.28 and a 200-day moving average of $338.52. The company has a market cap of $104.78 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.86 and a beta of 1.38. 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, Inc. has a one year low of $277.84 and a one year high of $389.58.

The Goldman Sachs Group (NYSE:GS – Free Report) last posted its quarterly earnings data on Tuesday, April 18th. The investment management company reported $8.79 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $12.66 billion. During the same quarter last year, the company posted $10.76 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 31.21 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Thursday, June 1st were issued a dividend of $2.50 per share. The ex-dividend date was Wednesday, May 31st. This represents a $10.00 dividend on an annualized basis and a yield of 3.17%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 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 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 completion of the transaction, the insider now owns 51,676,439 shares in the company, valued at $606,164,629.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Goldman Sachs Group Inc sold 9,000,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 51,676,439 shares in the company, valued at $606,164,629.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Philip R. Berlinski sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $338.10, for a total transaction of $1,267,875.00. Following the completion of the transaction, the treasurer now owns 21,366 shares of the company’s stock, valued at $7,223,844.60. The disclosure for this sale can be found here. Insiders sold 34,978,986 shares of company stock worth $660,057,057 over the last quarter. 0.54% of the stock is currently owned by company insiders.

About The Goldman Sachs Group

(Free Report)

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.