The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by Iat Reinsurance Co. LTD.

Iat Reinsurance Co. LTD. raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GSGet Rating) by 91.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,700 shares of the investment management company’s stock after purchasing an additional 102,200 shares during the quarter. The Goldman Sachs Group accounts for 5.1% of Iat Reinsurance Co. LTD.’s portfolio, making the stock its 3rd largest position. Iat Reinsurance Co. LTD. owned 0.06% of The Goldman Sachs Group worth $70,542,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $26,000. Nauset Wealth Management. LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $27,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $35,000. Rise Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $38,000. Finally, Bromfield Sneider Wealth Advisors acquired a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 71.42% of the company’s stock.

Insider Buying and Selling

In related news, Director Goldman Sachs Group Inc sold 86,068 shares of The Goldman Sachs Group stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $15.30, for a total value of $1,316,840.40. Following the transaction, the director now directly owns 2,240,454 shares in the company, valued at approximately $34,278,946.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,320,622 shares of company stock worth $25,684,252 in the last three months. 0.57% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

Shares of GS traded up $2.98 during midday trading on Tuesday, reaching $337.66. The stock had a trading volume of 10,759 shares, compared to its average volume of 2,630,751. The Goldman Sachs Group, Inc. has a 52 week low of $277.84 and a 52 week high of $426.16. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50 day moving average price is $307.00 and its 200-day moving average price is $323.37. The company has a market capitalization of $115.26 billion, a P/E ratio of 7.57, a P/E/G ratio of 0.76 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GSGet Rating) last posted its quarterly earnings data on Monday, July 18th. The investment management company reported $7.73 EPS for the quarter, topping analysts’ consensus estimates of $6.61 by $1.12. The Goldman Sachs Group had a return on equity of 15.89% and a net margin of 27.75%. The company had revenue of $11.86 billion for the quarter, compared to the consensus estimate of $10.70 billion. During the same quarter in the previous year, the business earned $15.02 EPS. The company’s quarterly revenue was down 22.9% compared to the same quarter last year. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 34.48 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, August 10th. Investors of record on Tuesday, July 26th will be issued a $2.50 dividend. The ex-dividend date is Monday, July 25th. The Goldman Sachs Group’s payout ratio is 18.09%.

Wall Street Analyst Weigh In

GS has been the topic of several recent research reports. Piper Sandler cut their price target on The Goldman Sachs Group from $430.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Morgan Stanley cut their price target on The Goldman Sachs Group from $418.00 to $354.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Wells Fargo & Company cut their price target on The Goldman Sachs Group from $420.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Royal Bank of Canada cut their price target on The Goldman Sachs Group from $390.00 to $370.00 and set a “sector perform” rating on the stock in a report on Friday, July 1st. Finally, Citigroup cut their price target on The Goldman Sachs Group from $400.00 to $360.00 in a report on Tuesday, July 12th. Six 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.92.

About The Goldman Sachs Group

(Get Rating)

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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

Further Reading

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

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