SouthState Corp Reduces Position in The Goldman Sachs Group, Inc. (NYSE:GS)

SouthState Corp reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,705 shares of the investment management company’s stock after selling 47 shares during the period. SouthState Corp’s holdings in The Goldman Sachs Group were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aveo Capital Partners LLC grew its holdings in The Goldman Sachs Group by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company’s stock valued at $269,000 after buying an additional 53 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of The Goldman Sachs Group by 62.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 37,290 shares of the investment management company’s stock valued at $14,385,000 after purchasing an additional 14,363 shares during the period. Natixis Advisors L.P. increased its position in The Goldman Sachs Group by 24.2% during the fourth quarter. Natixis Advisors L.P. now owns 289,097 shares of the investment management company’s stock worth $111,524,000 after purchasing an additional 56,281 shares during the last quarter. Benjamin Edwards Inc. raised its stake in The Goldman Sachs Group by 40.8% during the fourth quarter. Benjamin Edwards Inc. now owns 1,402 shares of the investment management company’s stock worth $541,000 after purchasing an additional 406 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in The Goldman Sachs Group by 5.3% in the 4th quarter. First Horizon Advisors Inc. now owns 1,634 shares of the investment management company’s stock valued at $631,000 after purchasing an additional 82 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 1.3 %

Shares of GS traded up $5.73 during midday trading on Friday, hitting $438.30. The company had a trading volume of 2,406,298 shares, compared to its average volume of 2,376,184. The company’s 50-day simple moving average is $403.65 and its 200-day simple moving average is $373.37. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $442.30. The firm has a market capitalization of $142.24 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.34 and a beta of 1.40.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the previous year, the firm earned $8.79 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 36.07 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Insiders Place Their Bets

In related news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now directly owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the sale, the director now directly owns 623,425 shares in the company, valued at approximately $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders sold 29,330 shares of company stock valued at $11,713,578 in the last ninety days. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America raised their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price target on The Goldman Sachs Group from $445.00 to $485.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. HSBC raised their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer upped their target price on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Argus upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target for the company in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $437.04.

About The Goldman Sachs Group

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 financing under securities to resale agreements.