Steward Partners Investment Advisory LLC Boosts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Steward Partners Investment Advisory LLC increased its holdings in The Goldman Sachs Group by 7.9% during the first quarter, owning a total of 36,097 shares valued at approximately $19.72 million.
• The Goldman Sachs Group reported quarterly earnings of $10.91 EPS, surpassing expectations and showing a 14.5% year-over-year increase in revenue.
• The company declared a dividend increase to $4.00 per share, reflecting a commitment to returning value to shareholders, with a yield of 2.2%.

Steward Partners Investment Advisory LLC grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,097 shares of the investment management company's stock after acquiring an additional 2,639 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in The Goldman Sachs Group were worth $19,720,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Menora Mivtachim Holdings LTD. raised its stake in shares of The Goldman Sachs Group by 20.0% during the first quarter. Menora Mivtachim Holdings LTD. now owns 600 shares of the investment management company's stock worth $328,000 after acquiring an additional 100 shares in the last quarter. Oder Investment Management LLC raised its stake in shares of The Goldman Sachs Group by 5.4% during the first quarter. Oder Investment Management LLC now owns 451 shares of the investment management company's stock worth $246,000 after acquiring an additional 23 shares in the last quarter. Cresset Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 56.7% during the first quarter. Cresset Asset Management LLC now owns 36,510 shares of the investment management company's stock worth $19,945,000 after acquiring an additional 13,214 shares in the last quarter. Forvis Mazars Wealth Advisors LLC raised its stake in shares of The Goldman Sachs Group by 19.7% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 2,674 shares of the investment management company's stock worth $1,461,000 after acquiring an additional 441 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its holdings in shares of The Goldman Sachs Group by 23.2% in the first quarter. Tocqueville Asset Management L.P. now owns 40,496 shares of the investment management company's stock worth $22,123,000 after purchasing an additional 7,628 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $730.50 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $221.14 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.55 and a beta of 1.38. The business has a fifty day simple moving average of $694.80 and a two-hundred day simple moving average of $617.71. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $749.05.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $8.62 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal 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 given a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 35.26%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GS. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. JMP Securities restated a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, HSBC restated a "reduce" rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $660.00.

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 firm'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 completion of the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is currently owned by company insiders.

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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