Hodges Capital Management Reduces Its Stake in The Goldman Sachs Group, Inc.

Hodges Capital Management Inc. has decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 17.9% during the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission. After selling 2,035 shares during the period, the institutional investor now owns 9,345 shares of the investment management company. According to the most recent filing, Hodges Capital Management's stake in The Goldman Sachs Group was valued at approximately $5,351,000.

Institutional Investments in Goldman Sachs

Alongside Hodges Capital, several other large investors have recently altered their positions in Goldman Sachs. For example, West Branch Capital LLC initiated a new investment during the third quarter worth about $30,000. DT Investment Partners LLC enhanced its stake by 110.0% in the same period, now holding 63 shares valued at $31,000 after acquiring an additional 33 shares. Meanwhile, Truvestments Capital LLC and Country Trust Bank also bought new stakes in Goldman Sachs, valued at around $34,000 and $37,000 respectively. Furthermore, Capital Performance Advisors LLP joined in purchasing a new position valued at approximately $38,000. Altogether, hedge funds and institutional investors currently hold 71.21% of the company's stock.

Analysts Provide New Price Forecasts

Goldman Sachs has been the focus of several recent research analyses. Morgan Stanley has increased its price target for the company from $736.00 to $782.00, assigning it an "overweight" rating. Similarly, Bank of America raised its target from $563.00 to $575.00 and labeled it as a "buy" on October 16th. Conversely, HSBC Global Research downgraded the stock from a "strong buy" to a "hold" on November 26th. Barclays has also elevated their price target from $713.00 to $760.00 on January 16th, maintaining an "overweight" rating. Evercore ISI increased their price target from $520.00 to $575.00, designating the stock as "outperform." The overall consensus indicates that Goldman Sachs has eight analysts recommending holding the stock while twelve analysts suggest buying it, leading to a consensus rating of "Moderate Buy" with an average price target of $591.06 according to MarketBeat.com.

Goldman Sachs Stock Performance

Goldman Sachs shares (GS) opened at $640.15 recently, with a 50-day moving average of $596.07 and a 200-day moving average of $541.71. Over the last twelve months, the stock has fluctuated between a low of $375.20 and a high of $650.00. Currently, the firm's market cap stands at $198.73 billion, boasting a P/E ratio of 15.79 and a price-to-earnings-growth ratio of 0.89. The company has reported a debt-to-equity ratio of 2.32.

Recent Earnings Results

The Goldman Sachs Group recently announced its earnings results on January 15th. The investment management company revealed earnings of $11.95 per share for the quarter, surpassing estimates of $8.21 by $3.74. The return on equity was reported at 13.30%, while the net margin stood at 11.32%. The firm's revenue reached $13.87 billion for the quarter, outpacing predictions of $12.36 billion. Comparatively, the firm earned $5.48 earnings per share during the same quarter last year, reflecting a 22.5% increase in quarterly revenue year-over-year. Analysts have an average forecast of 47.1 earnings per share for The Goldman Sachs Group for the current year.

Dividend Announcements from Goldman Sachs

Additionally, Goldman Sachs has announced a quarterly dividend to be paid on March 28th. Shareholders on record as of February 28th will receive a dividend of $3.00 per share. This translates to an annualized dividend of $12.00, providing a yield of 1.87%. Currently, Goldman Sachs has a dividend payout ratio of 29.59%.

Insider Trading Activities

In other news, insider Alex S. Golten sold 5,208 shares on January 28th at an average price of $636.25, totaling $3,313,590.00. Following this sale, Golten’s direct ownership in the company is now 3,545 shares worth around $2,255,506.25, marking a 59.50% decrease in ownership. Furthermore, Treasurer Carey Halio sold 3,640 shares on January 24th for an average price of $636.74, amounting to $2,317,733.60. Halio’s ownership now totals 4,552 shares valued at approximately $2,898,440.48, a 44.43% drop. Over the past ninety days, insiders have cumulatively sold 40,865 shares priced at $25,286,862. Insiders currently own 0.57% of the stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc. is a prominent financial institution that offers various financial services to corporations, financial institutions, governments, and individuals worldwide. It operates through several segments, including Global Banking & Markets and Asset & Wealth Management. The Global Banking & Markets segment specializes in financial advisory services, including strategic advisory roles related to mergers and acquisitions, corporate defense actions, restructurings, and financing solutions.

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