iA Global Asset Management Inc. Purchases 3,153 Shares of The Goldman Sachs Group, Inc. $GS

iA Global Asset Management Inc. boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,643 shares of the investment management company’s stock after purchasing an additional 3,153 shares during the quarter. iA Global Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $18,145,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GS. Wellington Management Group LLP raised its holdings in The Goldman Sachs Group by 110.8% in the third quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company’s stock worth $1,417,997,000 after purchasing an additional 936,015 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in The Goldman Sachs Group by 428.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after purchasing an additional 450,984 shares in the last quarter. Vanguard Group Inc. raised its holdings in The Goldman Sachs Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after purchasing an additional 418,820 shares in the last quarter. Jennison Associates LLC raised its holdings in The Goldman Sachs Group by 40.8% in the fourth quarter. Jennison Associates LLC now owns 1,353,007 shares of the investment management company’s stock worth $1,189,293,000 after purchasing an additional 392,319 shares in the last quarter. Finally, Danske Bank A S bought a new position in The Goldman Sachs Group in the third quarter worth about $178,941,000. 71.21% of the stock is currently owned by institutional investors.

More The Goldman Sachs Group News

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on GS shares. Rothschild & Co Redburn boosted their target price on shares of The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Royal Bank Of Canada reiterated a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Wells Fargo & Company reduced their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an “overweight” rating for the company in a report on Monday, April 13th. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $942.24.

Insider Transactions at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’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 sale, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,824 shares of company stock worth $25,062,242. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $949.89 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $582.50 and a fifty-two week high of $984.70. The firm has a market capitalization of $280.23 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.22 and a beta of 1.28. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s 50-day simple moving average is $878.61 and its 200-day simple moving average is $878.32.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same quarter in the previous year, the firm earned $14.12 earnings per share. The company’s revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast 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 firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be paid a dividend of $4.50 per share. The ex-dividend date is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. 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.