Corebridge Financial Inc. Lowers Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Corebridge Financial Inc. reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,147 shares of the investment management company’s stock after selling 3,911 shares during the period. Corebridge Financial Inc.’s holdings in The Goldman Sachs Group were worth $41,313,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Stephens Consulting LLC acquired a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $26,000. Asset Planning Inc acquired a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $29,000. Curio Wealth LLC acquired a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $30,000. Truvestments Capital LLC acquired a new stake in The Goldman Sachs Group in the 3rd quarter valued at $34,000. Finally, Whipplewood Advisors LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Treasurer Carey Halio sold 3,640 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $636.74, for a total transaction of $2,317,733.60. Following the completion of the transaction, the treasurer now owns 4,552 shares of the company’s stock, valued at approximately $2,898,440.48. The trade was a 44.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin R. Johnson acquired 2,400 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the acquisition, the director now owns 2,400 shares in the company, valued at approximately $1,485,648. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 19,925 shares of company stock worth $12,630,683 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GS. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company restated an “overweight” rating on shares of The Goldman Sachs Group in a research note on Friday, February 28th. Finally, HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $594.27.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $565.00 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $176.30 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group, Inc. has a twelve month low of $387.12 and a twelve month high of $672.19. The business has a 50 day simple moving average of $610.89 and a 200-day simple moving average of $569.20.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the previous year, the firm earned $5.48 earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.12%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

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.