Citizens Business Bank Sells 3,452 Shares of The Goldman Sachs Group, Inc. $GS

Citizens Business Bank trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 29.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,077 shares of the investment management company’s stock after selling 3,452 shares during the quarter. The Goldman Sachs Group accounts for about 1.1% of Citizens Business Bank’s holdings, making the stock its 25th largest holding. Citizens Business Bank’s holdings in The Goldman Sachs Group were worth $6,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. LGT Fund Management Co Ltd. purchased a new stake in shares of The Goldman Sachs Group during the first quarter valued at approximately $1,073,000. Global Assets Advisory LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth $607,000. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth $2,024,921,000. Anchor Investment Management LLC raised its holdings in The Goldman Sachs Group by 1.2% during the 1st quarter. Anchor Investment Management LLC now owns 4,598 shares of the investment management company’s stock valued at $3,890,000 after buying an additional 56 shares during the last quarter. Finally, Castleview Partners LLC boosted its position in The Goldman Sachs Group by 3.4% during the 1st quarter. Castleview Partners LLC now owns 574 shares of the investment management company’s stock valued at $486,000 after buying an additional 19 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

The Goldman Sachs Group Stock Up 0.1%

Shares of NYSE GS opened at $1,056.04 on Monday. The firm has a fifty day simple moving average of $1,017.99 and a two-hundred day simple moving average of $938.92. The Goldman Sachs Group, Inc. has a 12 month low of $691.30 and a 12 month high of $1,125.00. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $311.54 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm 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 posted $14.12 EPS. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts expect that The Goldman Sachs Group, Inc. will post 60.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

GS has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Daiwa Securities Group raised their target price on The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Bank of America boosted their price target on The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Dbs Bank increased their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $986.91.

Insider Activity at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex S. Golten sold 1,116 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the completion of the transaction, the insider owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by corporate insiders.

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.