Sumitomo Mitsui Trust Group Inc. Has $708.19 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Sumitomo Mitsui Trust Group Inc. has reduced its stake in The Goldman Sachs Group by 4.4%, now owning over 1 million shares valued at approximately $708.19 million.
• Despite this decrease, other investors like Dogwood Wealth Management and Ridgewood Investments significantly increased their positions in Goldman Sachs during the same period.
• The Goldman Sachs Group reported an EPS of $12.25 for the latest quarter, exceeding analysts' estimates, and announced a quarterly dividend of $4.00 per share to be paid in December.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,000,627 shares of the investment management company's stock after selling 46,571 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.33% of The Goldman Sachs Group worth $708,194,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dogwood Wealth Management LLC grew its position in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after buying an additional 36 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $25,000. American Capital Advisory LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Ridgewood Investments LLC grew its position in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after purchasing an additional 17 shares during the period. Finally, Avion Wealth grew its position in shares of The Goldman Sachs Group by 31.1% in the 2nd quarter. Avion Wealth now owns 59 shares of the investment management company's stock valued at $41,000 after purchasing an additional 14 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays boosted their target price on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an "overweight" rating in a research note on Wednesday, October 15th. Daiwa Capital Markets boosted their target price on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a "neutral" rating in a research note on Wednesday, October 8th. BMO Capital Markets assumed 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 on the stock. HSBC boosted their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Finally, Evercore ISI upped their price objective on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $779.50.

The Goldman Sachs Group Trading Up 1.6%

GS stock opened at $762.67 on Friday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The company has a fifty day moving average price of $766.49 and a two-hundred day moving average price of $676.63. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The stock has a market cap of $230.88 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.36 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued 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 Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company had revenue of $11.33 billion for the quarter, compared to analysts' expectations of $13.68 billion. During the same quarter last year, the business earned $8.40 earnings per share. The Goldman Sachs Group's revenue was up 19.5% on a year-over-year basis. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 32.50%.

Insider Activity at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,244 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company's stock.

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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