Truist Financial Corp Reduces Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Truist Financial Corp reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 548,443 shares of the investment management company’s stock after selling 54,701 shares during the quarter. Truist Financial Corp owned about 0.17% of The Goldman Sachs Group worth $211,573,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Trust Co. lifted its holdings in The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after buying an additional 41 shares during the period. Truvestments Capital LLC lifted its stake in shares of The Goldman Sachs Group by 88.0% in the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 44 shares during the period. BKM Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $32,000. Wetzel Investment Advisors Inc. purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $42,000. Finally, CNB Bank raised its holdings in The Goldman Sachs Group by 55.7% in the third quarter. CNB Bank now owns 165 shares of the investment management company’s stock worth $53,000 after purchasing an additional 59 shares in 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 GS stock traded up $7.32 during trading hours on Friday, reaching $427.37. The company had a trading volume of 2,322,454 shares, compared to its average volume of 2,385,898. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The business has a fifty day moving average price of $400.27 and a 200-day moving average price of $370.11. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $428.53. The firm has a market cap of $138.69 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.36 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.79 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 35.39 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is 42.95%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the transaction, the treasurer now owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GS shares. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $410.00 to $430.00 in a report on Thursday, March 14th. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target on the stock in a research note on Tuesday, April 16th. Finally, BMO Capital Markets raised their price objective on The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group 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.