Commerzbank Aktiengesellschaft FI Grows Stock Position in The Goldman Sachs Group, Inc. $GS

Commerzbank Aktiengesellschaft FI raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 63,242 shares of the investment management company’s stock after acquiring an additional 2,425 shares during the quarter. The Goldman Sachs Group makes up about 1.1% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 25th largest holding. Commerzbank Aktiengesellschaft FI’s holdings in The Goldman Sachs Group were worth $55,590,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dagco Inc. purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at about $25,000. Manning & Napier Advisors LLC raised its stake in The Goldman Sachs Group by 287.5% in the fourth 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 during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at about $31,000. Joseph Group Capital Management purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at about $37,000. Finally, Ares Financial Consulting LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at about $39,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the firm’s 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. This trade represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,824 shares of company stock valued at $25,062,242. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Down 2.0%

The Goldman Sachs Group stock opened at $949.89 on Friday. The firm has a market cap of $280.23 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28. The Goldman Sachs Group, Inc. has a 52 week low of $582.50 and a 52 week high of $984.70. The business’s 50-day moving average price is $878.61 and its 200 day moving average price is $878.32. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same period last year, the company earned $14.12 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be issued a $4.50 dividend. 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

Analyst Ratings Changes

A number of equities research analysts have commented on GS shares. Royal Bank Of Canada reiterated a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Morgan Stanley cut their price objective on The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $971.00 to $1,000.00 and gave the company a “market perform” rating in a report on Friday, January 16th. Wells Fargo & Company cut their price objective on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday, April 13th. Finally, Jefferies Financial Group cut their price objective on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.