Truist Financial Corp Buys 16,996 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Truist Financial Corp lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,989 shares of the investment management company’s stock after acquiring an additional 16,996 shares during the quarter. Truist Financial Corp owned approximately 0.17% of The Goldman Sachs Group worth $255,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC grew its position in shares of The Goldman Sachs Group by 0.8% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares during the period. Fulton Bank N.A. boosted its holdings in The Goldman Sachs Group by 0.8% in the second quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock worth $1,233,000 after acquiring an additional 22 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its stake in shares of The Goldman Sachs Group by 1.1% in the second quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock worth $893,000 after acquiring an additional 22 shares during the last quarter. Jacobi Capital Management LLC raised its position in shares of The Goldman Sachs Group by 1.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its stake in The Goldman Sachs Group by 1.2% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock worth $913,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.7 %

NYSE GS opened at $495.11 on Tuesday. The stock’s 50-day moving average price is $492.41 and its 200-day moving average price is $459.74. The company has a market capitalization of $159.66 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a yield of 2.42%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Insider Activity

In related news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of several analyst reports. Barclays upped their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets increased their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. UBS Group boosted their price target on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Oppenheimer boosted their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $496.44.

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.