AMJ Financial Wealth Management cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 14.6% during the 4th quarter, HoldingsChannel reports. The fund owned 15,483 shares of the investment management company’s stock after selling 2,651 shares during the period. The Goldman Sachs Group comprises 3.2% of AMJ Financial Wealth Management’s portfolio, making the stock its 2nd largest position. AMJ Financial Wealth Management’s holdings in The Goldman Sachs Group were worth $13,610,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of GS. Dagco Inc. bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $25,000. Manning & Napier Advisors LLC grew its position in The Goldman Sachs Group by 287.5% in 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 in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $31,000. Joseph Group Capital Management bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $37,000. Finally, Ares Financial Consulting LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $39,000. 71.21% of the stock is owned by institutional investors and hedge funds.
Insider Activity at The Goldman Sachs Group
In related news, CAO Sheara J. Fredman sold 10,301 shares of the firm’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 transaction of $9,571,380.17. Following the transaction, the chief accounting officer owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares in the company, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,824 shares of company stock valued at $25,062,242. 0.55% of the stock is currently owned by corporate insiders.
The Goldman Sachs Group Price Performance
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $14.12 earnings per share. Equities research analysts predict 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 firm also recently disclosed 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. This represents a $18.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.89%.
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 recently issued reports on GS shares. Jefferies Financial Group decreased their target price on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a research report on Monday, April 6th. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the company a “market perform” rating in a research report on Monday, April 20th. Argus raised their price objective on shares of The Goldman Sachs Group from $863.00 to $1,066.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Daiwa Securities Group raised their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, Bank of America reduced their price objective on shares of The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $942.24.
Read Our Latest Stock Analysis on GS
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.
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