Vestmark Advisory Solutions Inc. has increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.5% during the third quarter of 2023, according to the firm’s recent 13F filing with the Securities and Exchange Commission. Following this acquisition, Vestmark now owns 9,873 shares of Goldman Sachs, valued at approximately $7.86 million.
Several other institutional investors have also adjusted their positions in Goldman Sachs recently. Harbor Capital Advisors Inc. purchased a new stake worth about $26,000, while First PREMIER Bank acquired shares valued at $28,000. Corundum Trust Company Inc. and Elevation Wealth Partners LLC also made new investments, with Elevation Wealth doubling its holdings by acquiring an additional 20 shares during the period. Overall, institutional investors and hedge funds now own 71.21% of Goldman Sachs’ stock.
Stock Performance and Financial Highlights
As of Monday, shares of Goldman Sachs opened at $922.03. The firm’s 50-day moving average stands at $922.42, while the 200-day moving average is at $831.56. Goldman Sachs maintains a debt-to-equity ratio of 2.29, a quick ratio of 0.65, and a current ratio of 1.13. Over the past year, the stock has fluctuated between a low of $439.38 and a high of $984.70. The company has a market capitalization of $276.54 billion, a price-to-earnings ratio of 17.98, and a PEG ratio of 1.13.
In addition to these financial metrics, Goldman Sachs has announced an increase in its quarterly dividend. Shareholders of record as of March 2, 2024, will receive a dividend of $4.50 per share, up from the previous dividend of $4.00. This represents an annualized dividend of $18.00 and a yield of 2.0%. The company’s dividend payout ratio is 31.20%.
Analyst Ratings and Insider Transactions
Recent analyst ratings for Goldman Sachs reflect a variety of perspectives. Weiss Ratings reaffirmed a “hold (C+)” rating, while Argus raised its price target from $863.00 to $1,066.00 with a “buy” rating. Similarly, UBS Group reiterated a “neutral” rating, setting a price objective of $990.00. Barclays and Jefferies Financial Group also increased their price targets, with Barclays setting it at $1,048.00 and Jefferies at $1,087.00. Currently, one analyst has rated the stock as a Strong Buy, eight have given it a Buy rating, and fourteen have assigned a Hold rating, resulting in a consensus target price of $916.86.
In insider news, Kathryn H. Ruemmler, an executive at Goldman Sachs, sold 9,589 shares on January 23, 2024, for a total of approximately $8.89 million. Following this transaction, Ruemmler holds 18,533 shares valued at around $17.19 million, reflecting a 34.10% decrease in her position. Additionally, Director David A. Viniar sold 45,000 shares on January 16, 2024, at an average price of $965.33, totaling about $43.44 million. This sale reduced his ownership by 7.50%.
Over the past three months, insiders have sold a total of 117,283 shares of Goldman Sachs, worth approximately $112.02 million. Currently, insiders hold 0.55% of the company’s stock.
Goldman Sachs continues to receive attention for its market strategies and outlook. Recent reports indicate the firm raised its 2026 Q4 oil price forecasts, which could enhance its performance in commodities trading and merchant-banking revenue. However, it also commented on the impact of recent legislative changes that could affect its consumer-lending subsidiary, Marcus, potentially increasing compliance costs and pressuring revenues.
Founded in 1869, The Goldman Sachs Group, Inc. is a global leader in investment banking and financial services, headquartered in New York City. The firm operates across major financial centers worldwide and offers a diverse range of services to corporations, financial institutions, governments, and individuals. Under the leadership of CEO David M. Solomon, Goldman Sachs remains a key player in the financial services sector.
