Pzena Investment Management LLC Sells 111,327 Shares of The Goldman Sachs Group, Inc. $GS

Pzena Investment Management LLC reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 90.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,225 shares of the investment management company’s stock after selling 111,327 shares during the quarter. Pzena Investment Management LLC’s holdings in The Goldman Sachs Group were worth $10,746,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $25,000. Manning & Napier Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after purchasing an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $31,000. Entrust Financial LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $34,000. Finally, Graney & King LLC increased its holdings in shares of The Goldman Sachs Group by 51.5% during the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs was selected as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

Wall Street Analyst Weigh In

Several research analysts have recently commented on GS shares. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. BMO Capital Markets raised their target price on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a “market perform” rating in a report on Monday, April 20th. Evercore lowered their target price on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Weiss Ratings cut shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $943.95.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 33,681 shares of company stock worth $31,737,875. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Up 0.9%

NYSE GS opened at $996.73 on Friday. The business has a fifty day moving average price of $892.51 and a two-hundred day moving average price of $884.59. 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 fifty-two week low of $582.50 and a fifty-two week high of $1,005.36. The stock has a market capitalization of $294.04 billion, a PE ratio of 18.22, a PEG ratio of 1.27 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company earned $14.12 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 59.53 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 Monday, June 29th. Shareholders of record on Monday, June 1st will be paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s payout ratio is presently 32.89%.

The Goldman Sachs Group Profile

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.