Primecap Management Co. CA Sells 21,710 Shares of The Goldman Sachs Group, Inc. $GS

Primecap Management Co. CA lowered its position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 11.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 163,830 shares of the investment management company’s stock after selling 21,710 shares during the period. Primecap Management Co. CA’s holdings in The Goldman Sachs Group were worth $130,466,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GS. Hartline Investment Corp lifted its position in The Goldman Sachs Group by 153.3% in the third quarter. Hartline Investment Corp now owns 1,421 shares of the investment management company’s stock valued at $1,132,000 after purchasing an additional 860 shares during the last quarter. A4 Wealth Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the third quarter worth $940,000. Stevens Capital Management LP bought a new stake in The Goldman Sachs Group during the 3rd quarter valued at $1,392,000. Meridian Wealth Management LLC raised its holdings in The Goldman Sachs Group by 39.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,332 shares of the investment management company’s stock valued at $1,857,000 after buying an additional 659 shares during the last quarter. Finally, AlTi Global Inc. boosted its position in The Goldman Sachs Group by 87.3% during the 3rd quarter. AlTi Global Inc. now owns 29,770 shares of the investment management company’s stock valued at $23,707,000 after buying an additional 13,879 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Trending Headlines about The Goldman Sachs Group

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Analyst Upgrades and Downgrades

A number of research firms have issued reports on GS. Dbs Bank boosted their price objective on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $750.00 to $775.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a research report on Friday, January 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Monday, December 22nd. Finally, Autonomous Res reduced their target price on The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $916.86.

Get Our Latest Stock Report on GS

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 11,623 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $941.57, for a total transaction of $10,943,868.11. Following the completion of the transaction, the chief financial officer owned 29,342 shares of the company’s stock, valued at approximately $27,627,546.94. This trade represents a 28.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Viniar sold 45,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $965.33, for a total transaction of $43,439,850.00. Following the transaction, the director owned 555,000 shares of the company’s stock, valued at $535,758,150. The trade was a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 117,283 shares of company stock worth $112,016,033 over the last 90 days. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Up 0.8%

Shares of NYSE:GS opened at $928.87 on Friday. The firm has a market capitalization of $278.60 billion, a P/E ratio of 18.11, a P/E/G ratio of 1.13 and a beta of 1.34. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.65 and a current ratio of 1.13. The stock has a 50 day moving average price of $924.95 and a 200-day moving average price of $835.31. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $984.70.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, topping the consensus estimate of $11.52 by $2.03. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $11.95 earnings per share. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be paid a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, March 2nd. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s dividend payout ratio (DPR) is 31.20%.

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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