Swedbank AB Purchases 426 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Swedbank AB increased its stake in The Goldman Sachs Group by 0.1%, acquiring an additional 426 shares to own a total of 368,750 shares valued at approximately $201.44 million.
• CEO David M. Solomon and EVP John F.W. Rogers sold significant portions of their shares, with Solomon selling 6,608 shares for about $4.71 million.
• The Goldman Sachs Group plans to pay a quarterly dividend of $4.00 per share starting September 29, 2023, increasing its annual dividend yield to 2.0%.

Swedbank AB increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 368,750 shares of the investment management company's stock after acquiring an additional 426 shares during the quarter. Swedbank AB owned about 0.12% of The Goldman Sachs Group worth $201,444,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Harold Davidson & Associates Inc. raised its stake in shares of The Goldman Sachs Group by 50.1% during the 1st quarter. Harold Davidson & Associates Inc. now owns 3,081 shares of the investment management company's stock worth $1,683,000 after acquiring an additional 1,028 shares in the last quarter. Invst LLC raised its stake in shares of The Goldman Sachs Group by 503.5% during the 1st quarter. Invst LLC now owns 2,559 shares of the investment management company's stock worth $1,398,000 after acquiring an additional 2,135 shares in the last quarter. Modern Wealth Management LLC increased its stake in The Goldman Sachs Group by 5.5% during the 1st quarter. Modern Wealth Management LLC now owns 946 shares of the investment management company's stock valued at $517,000 after purchasing an additional 49 shares in the last quarter. Anson Funds Management LP acquired a new position in The Goldman Sachs Group during the 1st quarter valued at approximately $1,093,000. Finally, Strs Ohio acquired a new position in The Goldman Sachs Group during the 1st quarter valued at approximately $106,371,000. Institutional investors own 71.21% of the company's stock.

Insider Activity

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Stock Up 2.0%

GS stock opened at $785.23 on Friday. The firm's fifty day simple moving average is $727.73 and its 200-day simple moving average is $630.35. The company has a market capitalization of $237.70 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.41. 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 12 month low of $439.38 and a 12 month high of $793.17.

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 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.62 EPS. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

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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