SouthState Corp Increases Stake in The Goldman Sachs Group, Inc. $GS

by · The Markets Daily

SouthState Corp boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,496 shares of the investment management company’s stock after acquiring an additional 474 shares during the quarter. SouthState Corp’s holdings in The Goldman Sachs Group were worth $3,182,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Winthrop Advisory Group LLC raised its position in 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 in the last quarter. Avion Wealth grew its holdings in The Goldman Sachs Group by 31.1% in the second 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. KPP Advisory Services LLC grew its holdings in The Goldman Sachs Group by 2.1% in the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock valued at $473,000 after purchasing an additional 14 shares during the period. Dumont & Blake Investment Advisors LLC grew its holdings in The Goldman Sachs Group by 0.7% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock valued at $1,586,000 after purchasing an additional 15 shares during the period. Finally, Mechanics Financial Corp grew its holdings in The Goldman Sachs Group by 5.8% in the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 16 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $750.00 price objective (up from $625.00) on shares of The Goldman Sachs Group in a report on Tuesday, October 21st. BMO Capital Markets assumed coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective on the stock. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Royal Bank Of Canada reaffirmed a “neutral” rating and issued a $843.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. Finally, Barclays lifted their price target on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $779.50.

Read Our Latest Analysis on The Goldman Sachs Group

The Goldman Sachs Group Stock Up 0.3%

Shares of NYSE:GS opened at $793.12 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The business has a fifty day moving average of $776.50 and a two-hundred day moving average of $697.45. The stock has a market cap of $240.09 billion, a P/E ratio of 16.11, a PEG ratio of 1.43 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.27 by $1.98. The company had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $8.40 EPS. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. This represents a 7.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Company Profile

(Free Report)

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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