Allspring Global Investments Holdings LLC Sells 39,240 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in The Goldman Sachs Group by 35.9%, selling 39,240 shares and holding 70,090 shares valued at approximately $49.5 million post-sale.
• Goldman Sachs recently reported $12.25 EPS for the quarter, surpassing estimates, but its revenue of $11.33 billion fell short of expectations.
• The company announced a quarterly dividend of $4.00 per share, with a projected annual yield of 2.1%, payable to shareholders of record on December 2nd.

Allspring Global Investments Holdings LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 35.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,090 shares of the investment management company's stock after selling 39,240 shares during the period. Allspring Global Investments Holdings LLC's holdings in The Goldman Sachs Group were worth $49,516,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its stake in The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after buying an additional 116,535 shares during the period. Clear Creek Financial Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $321,000. Blueshift Asset Management LLC raised its position in The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after buying an additional 652 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its position in The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after buying an additional 14,600 shares during the last quarter. Finally, Terra Nova Asset Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,643,000. 71.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $771.44 on Wednesday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The business's 50 day simple moving average is $763.05 and its two-hundred day simple moving average is $666.12. The stock has a market capitalization of $233.53 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts' consensus estimates of $10.27 by $1.98. The business had revenue of $11.33 billion for the quarter, compared to analysts' expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $8.40 EPS. Analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group's payout ratio is 35.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. BMO Capital Markets started coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $785.00 target price for the company. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, JMP Securities reissued a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $746.69.

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.

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