Peloton Wealth Strategists Cuts Position in The Goldman Sachs Group, Inc. $GS

Peloton Wealth Strategists decreased its position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,585 shares of the investment management company’s stock after selling 1,040 shares during the quarter. The Goldman Sachs Group accounts for approximately 1.9% of Peloton Wealth Strategists’ portfolio, making the stock its 16th largest position. Peloton Wealth Strategists’ holdings in The Goldman Sachs Group were worth $4,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new position in shares of The Goldman Sachs Group in the third quarter worth $1,392,000. Robeco Institutional Asset Management B.V. grew its stake in shares of The Goldman Sachs Group by 3.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 215,482 shares of the investment management company’s stock worth $189,409,000 after acquiring an additional 8,154 shares in the last quarter. M&G PLC acquired a new position in shares of The Goldman Sachs Group in the third quarter worth $1,939,000. Rathbones Group PLC grew its stake in shares of The Goldman Sachs Group by 12.6% in the third quarter. Rathbones Group PLC now owns 276,364 shares of the investment management company’s stock worth $220,082,000 after acquiring an additional 30,825 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of The Goldman Sachs Group by 35.0% in the fourth quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company’s stock worth $10,499,000 after acquiring an additional 3,098 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value 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 $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the business’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 of the company’s stock, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,681 shares of company stock valued at $31,737,875 in the last ninety days. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GS. UBS Group boosted their price target on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. 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 research note on Friday, May 8th. Wells Fargo & Company lowered 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 research note on Monday, April 13th. Finally, Dbs Bank boosted their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $941.82.

Check Out Our Latest Report on GS

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,090.03 on Wednesday. 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 fifty day moving average price of $966.09 and a 200 day moving average price of $914.56. The company has a market cap of $321.57 billion, a P/E ratio of 19.92, a PEG ratio of 1.40 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 12 month low of $623.00 and a 12 month high of $1,098.36.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The firm 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 was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $14.12 earnings per share. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 59.08 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be given a $4.50 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The Goldman Sachs Group’s payout ratio is 32.89%.

Key Stories Impacting The Goldman Sachs Group

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

The Goldman Sachs Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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