Exchange Traded Concepts LLC Sells 11,366 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)


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Exchange Traded Concepts LLC lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 61.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,278 shares of the investment management company’s stock after selling 11,366 shares during the period. Exchange Traded Concepts LLC’s holdings in The Goldman Sachs Group were worth $2,380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth $25,000. RMR Wealth Builders bought a new position in The Goldman Sachs Group during the fourth quarter valued at $26,000. Danda Trouve Investment Management Inc. bought a new position in The Goldman Sachs Group during the fourth quarter valued at $26,000. IronBridge Private Wealth LLC bought a new position in The Goldman Sachs Group during the fourth quarter valued at $26,000. Finally, Cordasco Financial Network bought a new position in The Goldman Sachs Group during the first quarter valued at $33,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP John F.W. Rogers sold 10,000 shares of The Goldman Sachs Group stock in a transaction on Friday, February 19th. The stock was sold at an average price of $313.25, for a total value of $3,132,500.00. Also, insider Laurence Stein sold 10,748 shares of The Goldman Sachs Group stock in a transaction on Tuesday, February 2nd. The shares were sold at an average price of $277.93, for a total value of $2,987,191.64. In the last three months, insiders have sold 40,748 shares of company stock worth $12,371,892. 0.60% of the stock is owned by corporate insiders.

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of The Goldman Sachs Group from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup raised their price target on shares of The Goldman Sachs Group from $357.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, January 22nd. UBS Group downgraded shares of The Goldman Sachs Group from a “buy” rating to a “neutral” rating and raised their target price for the company from $320.00 to $340.00 in a research report on Thursday, April 1st. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $360.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, April 14th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $308.00 price target on shares of The Goldman Sachs Group in a report on Wednesday, January 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $351.23.

Shares of GS stock opened at $330.85 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $114.41 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.65 and a beta of 1.50. The stock has a 50 day simple moving average of $334.67 and a 200-day simple moving average of $274.02. The Goldman Sachs Group, Inc. has a 1-year low of $165.36 and a 1-year high of $356.85.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, April 13th. The investment management company reported $18.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $10.22 by $8.38. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $11.74 billion. The Goldman Sachs Group had a return on equity of 11.23% and a net margin of 16.65%. The firm’s quarterly revenue was up 102.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.11 EPS. Analysts anticipate that The Goldman Sachs Group, Inc. will post 26.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 29th. Investors of record on Tuesday, June 1st will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, May 28th. The Goldman Sachs Group’s payout ratio is 23.78%.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides 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. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services.

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

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