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

Corebridge Financial Inc. cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 hedge funds also recently added to or reduced their stakes in GS. Swedbank AB increased its stake in The Goldman Sachs Group by 4.2% in the 3rd quarter. Swedbank AB now owns 339,047 shares of the investment management company’s stock valued at $167,866,000 after buying an additional 13,730 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of The Goldman Sachs Group by 1.8% in the third quarter. Pacer Advisors Inc. now owns 23,413 shares of the investment management company’s stock valued at $11,592,000 after acquiring an additional 417 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of The Goldman Sachs Group by 8.2% during the third quarter. Meridian Wealth Management LLC now owns 1,268 shares of the investment management company’s stock worth $628,000 after acquiring an additional 96 shares during the period. Nwam LLC raised its holdings in The Goldman Sachs Group by 1.9% during the third quarter. Nwam LLC now owns 1,675 shares of the investment management company’s stock worth $829,000 after purchasing an additional 31 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its position in The Goldman Sachs Group by 4.4% in the third quarter. Nicolet Advisory Services LLC now owns 476 shares of the investment management company’s stock valued at $231,000 after purchasing an additional 20 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $565.00 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a fifty-two week low of $387.12 and a fifty-two week high of $672.19. The business has a fifty day moving average of $610.89 and a 200-day moving average of $569.20. The stock has a market cap 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 (NYSE:GS) last announced 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 the consensus estimate of $12.36 billion. During the same quarter in the previous year, the company posted $5.48 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $3.00 per share. 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 (DPR) is currently 29.59%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director Kevin R. Johnson bought 2,400 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the completion of the transaction, the director now owns 2,400 shares of the company’s stock, valued at $1,485,648. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now owns 3,545 shares of the company’s stock, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,925 shares of company stock valued at $12,630,683. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GS. Morgan Stanley dropped their target price on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Barclays increased their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of The Goldman Sachs Group in a research note on Friday, February 28th. Finally, HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $594.27.

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.