Sen. Ted Cruz Sells Off Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Senator Ted Cruz (R-Texas) recently sold shares of The Goldman Sachs Group, Inc. (NYSE:GS). In a filing disclosed on November 12th, the Senator disclosed that they had sold between $100,001 and $250,000 in The Goldman Sachs Group stock on November 11th.

The Goldman Sachs Group Stock Up 3.5%

GS opened at $838.80 on Thursday. The company has a market capitalization of $251.58 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The firm has a 50-day simple moving average of $782.87 and a two-hundred day simple moving average of $707.08. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $840.00.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the firm earned $8.40 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.50%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GS. Citigroup lifted their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Daiwa Capital Markets upped their target price on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Barclays lifted their price target on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Finally, Wells Fargo & Company upped their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $779.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group in the first quarter valued at about $25,000. Dogwood Wealth Management LLC boosted its position in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in The Goldman Sachs Group in the 3rd quarter worth approximately $26,000. First PREMIER Bank purchased a new position in The Goldman Sachs Group during the 3rd quarter worth approximately $28,000. Finally, Corundum Trust Company INC acquired a new stake in The Goldman Sachs Group during the 3rd quarter valued at approximately $29,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares in the company, valued at $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.

About Senator Cruz

Ted Cruz (Republican Party) is a member of the U.S. Senate from Texas. He assumed office on January 3, 2013. His current term ends on January 3, 2031.

Cruz (Republican Party) ran for re-election to the U.S. Senate to represent Texas. He won in the general election on November 5, 2024.

Cruz was born in Calgary in Alberta, Canada, where his parents were working in the Alberta oil fields. In 1974 they returned to the Houston area.

Cruz graduated from Second Baptist High School as valedictorian in 1988. He earned his B.A. in Public Policy from Princeton University in 1992. He went on to receive his J.D. from Harvard Law School in 1995. Cruz then worked in the following positions in the law field: law clerk to Chief Justice of the United States William Rehnquist, associate deputy attorney general for the U.S. Department of Justice and director of the Office of Policy Planning for the Federal Trade Commission.

Cruz served as Solicitor General of Texas from 2003 to 2008. In this role he was the youngest Solicitor General in the nation, as well as the longest-serving and first Hispanic Solicitor General in the state. Among his accomplishments, Cruz argued 40 oral arguments, including nine before the U.S. Supreme Court.

About The Goldman Sachs Group

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.