Prospera Financial Services Inc Sells 541 Shares of The Goldman Sachs Group, Inc. $GS

Prospera Financial Services Inc lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 5.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,428 shares of the investment management company’s stock after selling 541 shares during the quarter. Prospera Financial Services Inc’s holdings in The Goldman Sachs Group were worth $7,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in The Goldman Sachs Group during the third quarter valued at $26,000. First PREMIER Bank bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at about $28,000. Corundum Trust Company INC purchased a new position in shares of The Goldman Sachs Group during the third quarter worth about $29,000. Elevation Wealth Partners LLC increased its position in shares of The Goldman Sachs Group by 100.0% in the third quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after purchasing an additional 20 shares during the last quarter. Finally, Clearstead Trust LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at approximately $31,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $948.40 on Wednesday. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $984.70. The stock has a fifty day moving average of $914.60 and a 200 day moving average of $820.58. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $284.45 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.16 and a beta of 1.34.

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

The Goldman Sachs Group Increases Dividend

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

Insider Activity

In other news, CEO David M. Solomon sold 272 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $938.92, for a total value of $255,386.24. Following the sale, the chief executive officer directly owned 125,527 shares of the company’s stock, valued at $117,859,810.84. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 4,863 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $923.75, for a total value of $4,492,196.25. Following the completion of the sale, the chief accounting officer directly owned 10,301 shares in the company, valued at approximately $9,515,548.75. This represents a 32.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 87,513 shares of company stock valued at $83,718,401. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GS. Citigroup raised their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Monday, December 22nd. Daiwa Securities Group increased their price objective on The Goldman Sachs Group from $927.00 to $940.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Argus boosted their target price on The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Barclays upped their target price on The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $916.86.

Read Our Latest Report on The Goldman Sachs Group

The Goldman Sachs Group News Summary

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The Goldman Sachs Group 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.

Further Reading

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

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