Vest Financial LLC Acquires 1,222 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Vest Financial LLC increased its holdings in The Goldman Sachs Group by 39.2%, acquiring an additional 1,222 shares, bringing their total to 4,338 shares worth approximately $3.07 million.
• The Goldman Sachs Group reported earnings of $12.25 per share for the recent quarter, surpassing analysts’ expectations of $10.27, even though revenue of $11.33 billion fell short of estimates by $2.35 billion.
• The firm announced a quarterly dividend of $4.00 per share, which will be paid on December 30, 2023, representing an annualized yield of 2.1%.

Vest Financial LLC grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 39.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,338 shares of the investment management company's stock after acquiring an additional 1,222 shares during the period. Vest Financial LLC's holdings in The Goldman Sachs Group were worth $3,070,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Winthrop Advisory Group LLC raised its stake in shares of The Goldman Sachs Group by 3.4% during the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company's stock valued at $303,000 after acquiring an additional 14 shares during the last quarter. Mechanics Financial Corp increased its position in shares of The Goldman Sachs Group by 5.8% during the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company's stock worth $208,000 after buying an additional 16 shares during the period. Ridgewood Investments LLC increased its position in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after buying an additional 17 shares during the period. Bank of Stockton increased its position in shares of The Goldman Sachs Group by 0.7% during the second quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock worth $1,759,000 after buying an additional 17 shares during the period. Finally, Western Financial Corp CA increased its position in shares of The Goldman Sachs Group by 0.5% during the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after buying an additional 17 shares during the period. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Down 2.0%

The Goldman Sachs Group stock opened at $771.44 on Wednesday. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The firm has a market capitalization of $233.53 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The firm's fifty day moving average price is $763.05 and its two-hundred day moving average price is $666.12. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts' consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period last year, the firm earned $8.40 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. 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 35.26%.

Insider Activity

In related news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 over the last ninety days. Company insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. HSBC increased their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $790.00 to $850.00 and gave the stock a "market perform" rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research report on Tuesday, September 30th. Finally, Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and an average price target of $746.69.

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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