SteelPeak Wealth LLC Grows Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

SteelPeak Wealth LLC lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 53.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,773 shares of the investment management company's stock after buying an additional 5,130 shares during the period. SteelPeak Wealth LLC's holdings in The Goldman Sachs Group were worth $8,070,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GS. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Curio Wealth LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $30,000. Godsey & Gibb Inc. grew its holdings in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the period. Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $31,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 1.2%

Shares of GS traded up $8.35 during trading hours on Monday, hitting $713.30. The stock had a trading volume of 1,906,409 shares, compared to its average volume of 2,386,995. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $218.87 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.96 and a beta of 1.35. The company's fifty day simple moving average is $632.13 and its 200 day simple moving average is $596.59. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $726.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping the consensus estimate of $12.57 by $1.55. The business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same period last year, the company posted $11.58 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

Insider Buying and Selling

In related news, Director John B. Hess acquired 3,904 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were bought at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director directly owned 3,904 shares of the company's stock, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GS. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Daiwa Capital Markets cut The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price on the stock. in a report on Friday, April 4th. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Oppenheimer cut The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and an average price target of $614.00.

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.