SouthState Corp Lowers Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

SouthState Corp reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 3,705 shares of the investment management company’s stock after selling 47 shares during the period. SouthState Corp’s holdings in The Goldman Sachs Group were worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GS. Aveo Capital Partners LLC raised its stake in The Goldman Sachs Group by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company’s stock worth $269,000 after purchasing an additional 53 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of The Goldman Sachs Group by 62.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 37,290 shares of the investment management company’s stock worth $14,385,000 after buying an additional 14,363 shares during the last quarter. Natixis Advisors L.P. raised its position in shares of The Goldman Sachs Group by 24.2% in the 4th quarter. Natixis Advisors L.P. now owns 289,097 shares of the investment management company’s stock worth $111,524,000 after buying an additional 56,281 shares during the period. Benjamin Edwards Inc. boosted its holdings in The Goldman Sachs Group by 40.8% in the fourth quarter. Benjamin Edwards Inc. now owns 1,402 shares of the investment management company’s stock valued at $541,000 after acquiring an additional 406 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in The Goldman Sachs Group by 5.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,634 shares of the investment management company’s stock valued at $631,000 after acquiring an additional 82 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of GS stock traded up $5.73 on Friday, hitting $438.30. 2,406,298 shares of the stock traded hands, compared to its average volume of 2,376,184. The company’s fifty day moving average is $403.65 and its 200 day moving average is $373.37. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $442.30. The company has a market capitalization of $142.24 billion, a PE ratio of 17.11, a PEG ratio of 1.34 and a beta of 1.40. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same period in the prior year, the company earned $8.79 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 36.07 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Wall Street Analyst Weigh In

GS has been the topic of several research analyst reports. Evercore ISI lifted their price objective on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. HSBC raised their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday, April 16th. Finally, Edward Jones started coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $437.04.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders have sold 29,330 shares of company stock valued at $11,713,578 in the last quarter. Insiders own 0.54% 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.