SouthState Corp Buys 1,072 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• SouthState Corp increased its stake in The Goldman Sachs Group by 36.3%, acquiring an additional 1,072 shares, bringing its total holdings to 4,022 shares worth approximately $2.2 million.
• Insider trading shows that CEO David M. Solomon and CFO Denis P. Coleman sold a combined total of 14,071 shares valued at over $10 million, indicating a decrease in their stock ownership.
• The Goldman Sachs Group plans to increase its quarterly dividend from $3.00 to $4.00, reflecting a positive change in return for shareholders.

SouthState Corp grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 36.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,022 shares of the investment management company's stock after acquiring an additional 1,072 shares during the period. SouthState Corp's holdings in The Goldman Sachs Group were worth $2,197,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group during the first quarter valued at approximately $29,000. Godsey & Gibb Inc. boosted its stake in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Transce3nd LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were 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 approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group 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 directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 20,079 shares of company stock valued at $14,423,221. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GS. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Morgan Stanley increased their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Finally, Citigroup increased their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Trading Up 0.3%

Shares of The Goldman Sachs Group stock opened at $721.76 on Monday. 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 firm has a fifty day moving average price of $681.52 and a 200 day moving average price of $614.05. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $737.88. The stock has a market cap of $218.49 billion, a PE ratio of 15.90, a price-to-earnings-growth 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 for the quarter, beating analysts' consensus estimates 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 company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the company earned $8.62 earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

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

The Goldman Sachs Group Company 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.

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