Insider Selling: The Goldman Sachs Group (NYSE:GS) Insider Sells 14,292 Shares of Stock

The Goldman Sachs Group, Inc. (NYSE:GS) insider Kathryn Ruemmler sold 14,292 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

The Goldman Sachs Group Stock Up 1.2%

NYSE GS traded up $10.85 on Friday, hitting $936.72. 1,654,055 shares of the stock traded hands, compared to its average volume of 2,312,640. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $276.34 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.28. The Goldman Sachs Group, Inc. has a twelve month low of $565.78 and a twelve month high of $984.70. The stock has a 50-day moving average of $870.56 and a 200 day moving average of $871.13.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 business had revenue of $17.23 billion during the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $14.12 EPS. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 59.53 earnings per share 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. Stockholders of record on Monday, June 1st will be issued a dividend of $4.50 per share. The ex-dividend date of this dividend 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 32.89%.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: DBS Bank raised its price target on Goldman Sachs to $1,050 from $890, signaling confidence in further upside for the shares. DBS Bank adjusts price target on Goldman Sachs to 1,050 from 890
• Positive Sentiment: UBS also nudged its price target higher on Goldman Sachs, lifting it to $940 from $930, reflecting a constructive near-term outlook. UBS adjusts Goldman Sachs price target to 940 from 930
• Positive Sentiment: Anthropic announced a partnership with Blackstone, Hellman & Friedman, and Goldman Sachs to launch an AI services firm, highlighting GS’s involvement in a potentially high-growth AI initiative. 10 Best American AI Stocks to Buy Now
• Positive Sentiment: Goldman Sachs’ tech leadership said the firm is focused on speeding up engineers from idea to production, reinforcing its push to use AI to improve productivity and efficiency. Goldman Sachs tech boss says tracking individual AI usage isn’t useful
• Neutral Sentiment: Goldman Sachs’ analysts issued a number of calls on other companies, including a bullish Nvidia outlook and a Hold rating on MarketAxess; these reinforce the firm’s active research franchise but have only an indirect impact on GS shares. Goldman Sachs maintains Hold on MarketAxess Goldman Sachs on Nvidia
• Negative Sentiment: News flow around Goldman Sachs BDC’s weaker NAV and rising bad loans in its private credit fund may raise investor concerns about credit quality, though this is more relevant to GS’s asset-management exposure than its core banking business. Goldman Sachs Private Credit Fund’s Share of Bad Loans Rises

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GS. Hartline Investment Corp increased its stake in shares of The Goldman Sachs Group by 153.3% in the third quarter. Hartline Investment Corp now owns 1,421 shares of the investment management company’s stock worth $1,132,000 after acquiring an additional 860 shares during the last quarter. A4 Wealth Advisors LLC acquired a new position in The Goldman Sachs Group during the third quarter valued at approximately $940,000. Stevens Capital Management LP bought a new position in The Goldman Sachs Group in the 3rd quarter worth $1,392,000. Meridian Wealth Management LLC increased its stake in shares of The Goldman Sachs Group by 39.4% in the third quarter. Meridian Wealth Management LLC now owns 2,332 shares of the investment management company’s stock worth $1,857,000 after purchasing an additional 659 shares during the period. Finally, AlTi Global Inc. lifted its holdings in shares of The Goldman Sachs Group by 87.3% during the third quarter. AlTi Global Inc. now owns 29,770 shares of the investment management company’s stock worth $23,707,000 after buying an additional 13,879 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on GS. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $971.00 to $1,000.00 and gave the company a “market perform” rating in a research note on Friday, January 16th. BNP Paribas Exane decreased their price objective on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Citigroup lifted their target price on The Goldman Sachs Group from $765.00 to $930.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Finally, Argus upped their price objective on shares of The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Nine analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $942.24.

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.