Worth Asset Management LLC Decreases Holdings in The Goldman Sachs Group, Inc. $GS

Worth Asset Management LLC decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 74.1% in the first quarter, Holdings Channel reports. The fund owned 239 shares of the investment management company’s stock after selling 683 shares during the quarter. Worth Asset Management LLC’s holdings in The Goldman Sachs Group were worth $202,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dagco Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its position in shares of The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 23 shares during the last quarter. Lifetime Wealth Management P.C. bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $29,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $31,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Down 0.9%

Shares of GS opened at $1,096.33 on Wednesday. The firm has a market capitalization of $323.43 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.44 and a beta of 1.30. 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 Goldman Sachs Group, Inc. has a 1-year low of $653.23 and a 1-year high of $1,125.00. The company has a 50-day moving average of $987.12 and a 200 day moving average of $924.38.

The Goldman Sachs Group (NYSE:GS) 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 business had revenue of $17.23 billion for 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 for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $14.12 EPS. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders 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 1.6%. The Goldman Sachs Group’s payout ratio is 32.89%.

Analysts Set New Price Targets

Several research analysts have commented on GS shares. BNP Paribas Exane dropped their price objective on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Citigroup lifted their price target on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group raised their price objective on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. CICC Research upped their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company reduced their price target 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. Nine investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $949.55.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs’ equities trading revenue is expected to exceed $5 billion, pointing to a potential record quarter and stronger-than-expected trading results. Goldman Equities Haul to Rip Past 5 Billion Toward New Record
• Positive Sentiment: A separate report also said Goldman Sachs’ equities trading revenue is set to top $5 billion, reinforcing optimism around the firm’s trading franchise. Goldman Sachs equities trading revenue set to top 5B report
• Positive Sentiment: JPMorgan reportedly lifted its price target on Goldman Sachs and expects a strong trading-driven quarter, adding to sentiment that earnings could surprise to the upside. JPMorgan lifts Goldman Sachs GS target expects strong trading driven quarter
• Neutral Sentiment: Goldman Sachs analysts and strategists were active in the news cycle, including comments on AI valuations, oil demand, and recession odds, but these headlines are more about Goldman’s market views than a direct driver of GS shares. Investor assumptions about the AI trade are starting to stretch reality Goldman Sachs says
• Neutral Sentiment: The company also disclosed stakes in Qiagen and exited a stake in Resolute Mining, but those filings are unlikely to move GS stock meaningfully on their own. Goldman Sachs discloses 3.28 stake in Qiagen via shares and derivatives
• Neutral Sentiment: Goldman Sachs’ recession-risk cut to 15% and its work-from-home-for-the-World-Cup coverage are more macro or corporate-news items than direct stock catalysts. Goldman cuts U.S. recession risk to 15 percent after Iran deal

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction 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 transaction, the chief financial officer 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the transaction, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,681 shares of company stock valued at $31,737,875 over the last 90 days. 0.55% of the stock is owned by corporate insiders.

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.