Northwestern Mutual Wealth Management Co. lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 428.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 556,254 shares of the investment management company’s stock after acquiring an additional 450,984 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in The Goldman Sachs Group were worth $488,947,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of GS. Wellington Management Group LLP boosted its stake in shares of The Goldman Sachs Group by 110.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company’s stock worth $1,417,997,000 after acquiring an additional 936,015 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after acquiring an additional 418,820 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of The Goldman Sachs Group by 40.8% during the 4th quarter. Jennison Associates LLC now owns 1,353,007 shares of the investment management company’s stock worth $1,189,293,000 after acquiring an additional 392,319 shares in the last quarter. Danske Bank A S bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth $178,941,000. Finally, Evergreen Capital Management LLC boosted its stake in shares of The Goldman Sachs Group by 11,400.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 212,180 shares of the investment management company’s stock worth $168,970,000 after acquiring an additional 210,335 shares in the last quarter. 71.21% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a “market perform” rating in a research note on Monday, April 20th. 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 research report on Friday, May 8th. Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. BNP Paribas Exane decreased their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, UBS Group raised their target price on The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $942.24.
Insider Activity at The Goldman Sachs Group
In related news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the sale, the insider directly owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 26,824 shares of company stock valued at $25,062,242. Insiders own 0.55% of the company’s stock.
The Goldman Sachs Group Price Performance
GS opened at $949.89 on Friday. The stock has a market cap of $280.23 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.25 and a beta of 1.28. The Goldman Sachs Group, Inc. has a 1 year low of $582.50 and a 1 year high of $984.70. 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 stock has a fifty day moving average price of $878.61 and a 200 day moving average price of $878.32.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business’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. Analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.
The Goldman Sachs Group Announces Dividend
The company 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. 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 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.89%.
Key Headlines Impacting The Goldman Sachs Group
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
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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