Allspring Global Investments Holdings LLC Sells 965 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Allspring Global Investments Holdings LLC lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 112,994 shares of the investment management company’s stock after selling 965 shares during the period. Allspring Global Investments Holdings LLC’s holdings in The Goldman Sachs Group were worth $55,945,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vest Financial LLC grew its holdings in The Goldman Sachs Group by 196.1% during the third quarter. Vest Financial LLC now owns 1,510 shares of the investment management company’s stock worth $748,000 after purchasing an additional 1,000 shares during the period. West Branch Capital LLC acquired a new stake in The Goldman Sachs Group during the third quarter worth approximately $30,000. Cyndeo Wealth Partners LLC lifted its position in The Goldman Sachs Group by 14.2% during the third quarter. Cyndeo Wealth Partners LLC now owns 3,769 shares of the investment management company’s stock worth $1,866,000 after acquiring an additional 468 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in The Goldman Sachs Group during the third quarter worth approximately $211,000. Finally, Resonant Capital Advisors LLC lifted its position in The Goldman Sachs Group by 36.3% during the third quarter. Resonant Capital Advisors LLC now owns 668 shares of the investment management company’s stock worth $331,000 after acquiring an additional 178 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $517.87 on Tuesday. The company’s 50 day simple moving average is $498.80 and its 200 day simple moving average is $470.64. The stock has a market capitalization of $166.99 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $540.51.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.47 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.32%. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

GS has been the subject of several research reports. Citigroup raised their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Bank of America raised their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $524.69.

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.