AustralianSuper Pty Ltd Sells 143,543 Shares of The Goldman Sachs Group, Inc. $GS

AustralianSuper Pty Ltd lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 83.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 27,806 shares of the investment management company’s stock after selling 143,543 shares during the period. AustralianSuper Pty Ltd’s holdings in The Goldman Sachs Group were worth $24,441,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GS. Dagco Inc. bought a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC boosted its position in The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after buying an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $31,000. Joseph Group Capital Management purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $37,000. Finally, Ares Financial Consulting LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the sale, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,824 shares of company stock worth $25,062,242 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs lowered its 12-month U.S. recession probability to 25% from 30%, citing a resilient labor market and solid economic activity. That suggests a healthier macro backdrop for banks and markets overall. Goldman Slashes Recession Risk Odds as Labor Market Remains Resilient
• Neutral Sentiment: Goldman Sachs analysts remained active across several names, including Buy ratings on Telefonica, MercadoLibre, Insulet, Marathon Petroleum, UnitedHealth and ORIC Pharma, showing the firm continues to influence market sentiment but without direct impact on GS itself.
• Neutral Sentiment: There were also multiple media references to Goldman strategists warning that the recent market rally and volatility setup could imply more upside, but those commentary pieces were market-wide in nature and not specific to Goldman Sachs stock.
• Negative Sentiment: Financial stocks were weaker in afternoon trading, with the NYSE Financial Index down about 0.5%, which likely pressured Goldman Sachs shares along with the broader sector. Sector Update: Financial Stocks Lower in Afternoon Trading

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group raised their target price on The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. Argus raised their target price on The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Morgan Stanley reduced their target price on The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, Bank of America reduced their target price on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $942.24.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $949.89 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The Goldman Sachs Group, Inc. has a one year low of $582.50 and a one year high of $984.70. The company has a 50-day simple moving average of $878.61 and a two-hundred day simple moving average of $878.32. The firm has a market capitalization of $280.23 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same period last year, the business posted $14.12 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be given a dividend of $4.50 per share. The ex-dividend date is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group’s payout ratio is currently 32.89%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.