Manhattan West Asset Management LLC Has $4.46 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Manhattan West Asset Management LLC increased its holdings in The Goldman Sachs Group by 8.6% in Q1 2023, owning 8,158 shares worth approximately $4.46 million.
• Goldman Sachs reported earnings per share (EPS) of $10.91 for the most recent quarter, exceeding the consensus estimate of $9.82 and showing a 14.5% year-over-year revenue increase.
• The company has declared a quarterly dividend of $4.00, up from the previous $3.00, resulting in an annualized yield of 2.2%.

Manhattan West Asset Management LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,158 shares of the investment management company's stock after buying an additional 649 shares during the period. The Goldman Sachs Group makes up about 1.1% of Manhattan West Asset Management LLC's investment portfolio, making the stock its 25th largest holding. Manhattan West Asset Management LLC's holdings in The Goldman Sachs Group were worth $4,457,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Transce3nd LLC purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Godsey & Gibb Inc. grew its position in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Lowe Wealth Advisors LLC grew its position in The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the topic of several research analyst reports. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Citigroup boosted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Up 0.3%

Shares of GS stock traded up $2.02 on Friday, hitting $721.76. The company's stock had a trading volume of 1,275,362 shares, compared to its average volume of 2,002,584. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $737.88. The firm's fifty day moving average price is $681.52 and its 200-day moving average price is $614.05. The stock has a market capitalization of $218.49 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.53 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 26.44%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock valued at $14,423,221 in the last quarter. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Profile

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.