Twin Capital Management Inc. cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,438 shares of the investment management company’s stock after selling 902 shares during the quarter. The Goldman Sachs Group makes up 0.8% of Twin Capital Management Inc.’s portfolio, making the stock its 17th largest position. Twin Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $6,538,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. A4 Wealth Advisors LLC bought a new position in The Goldman Sachs Group in the third quarter valued at about $940,000. Stevens Capital Management LP bought a new position in The Goldman Sachs Group in the third quarter valued at about $1,392,000. Meridian Wealth Management LLC boosted its holdings in 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 valued at $1,857,000 after acquiring an additional 659 shares during the last quarter. AlTi Global Inc. boosted its holdings in 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. Finally, National Pension Service boosted its holdings in The Goldman Sachs Group by 3.1% during the third quarter. National Pension Service now owns 665,794 shares of the investment management company’s stock worth $530,205,000 after buying an additional 19,796 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GS has been the topic of a number of recent analyst reports. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. BMO Capital Markets raised their target price on 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. JPMorgan Chase & Co. restated a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Citigroup raised their target price on The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, 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 report on Tuesday, May 5th. Nine investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and an average target price of $943.95.
More The Goldman Sachs Group News
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs is reportedly set to lead SpaceX’s IPO, a landmark deal that could be the largest ever and bring in significant banking fees. Reuters: Goldman Sachs set to be named lead left underwriter for SpaceX IPO
- Positive Sentiment: Multiple outlets confirmed or repeated the SpaceX lead-underwriter news, adding to investor enthusiasm around Goldman Sachs’ advisory and underwriting franchise. CNBC: SpaceX picks Goldman Sachs to lead record-breaking IPO
- Positive Sentiment: Goldman Sachs also got a target-price boost from CICC Research to $980 with an outperform rating, reinforcing a constructive view on the stock. MarketScreener: CICC adjusts price target on Goldman Sachs
- Neutral Sentiment: Goldman Sachs said global oil stockpiles are being drawn down at a record pace, a view that reflects its macro commentary rather than a direct business update for GS. Financial Post: Goldman Says Oil Drawdowns Hit Record Pace as Buffer Shrinks
- Neutral Sentiment: Other recent headlines show Goldman advising on AI/data-center financing and discussing market volatility, which supports the firm’s visibility but is less immediate for the stock than the SpaceX IPO news. Reuters: Saudi Arabia’s Humain picks Goldman Sachs to advise on data centre financing
The Goldman Sachs Group Trading Up 5.7%
NYSE:GS opened at $981.97 on Thursday. 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 business’s 50-day simple moving average is $885.93 and its 200-day simple moving average is $882.40. The Goldman Sachs Group, Inc. has a fifty-two week low of $582.50 and a fifty-two week high of $984.70. The stock has a market capitalization of $289.69 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.28.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $16.66 billion. During the same period in the prior year, the business earned $14.12 EPS. The Goldman Sachs Group’s revenue for the quarter was up 14.4% compared to the same quarter last year. Sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors 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 yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is presently 32.89%.
Insiders Place Their Bets
In related news, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the sale, the chief accounting officer directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 in the last quarter. 0.55% of the stock is owned by company 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.
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