The Goldman Sachs Group, Inc. $GS Shares Sold by Meitav Investment House Ltd.

Meitav Investment House Ltd. lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,504 shares of the investment management company’s stock after selling 1,087 shares during the period. Meitav Investment House Ltd.’s holdings in The Goldman Sachs Group were worth $9,732,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GS. Norges Bank purchased a new position in The Goldman Sachs Group during the fourth quarter worth approximately $2,515,830,000. Corient Private Wealth LLC increased its position in shares of The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after buying an additional 2,448,767 shares in the last quarter. Wellington Management Group LLP increased its position in shares of The Goldman Sachs Group by 110.8% in the third quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company’s stock valued at $1,417,997,000 after buying an additional 936,015 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of The Goldman Sachs Group by 428.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after buying an additional 450,984 shares during the period. Finally, Diamant Asset Management Inc. raised its stake in shares of The Goldman Sachs Group by 84,499.0% during the 1st quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company’s stock worth $35,785,000 after buying an additional 422,495 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 23rd. CICC Research upped their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. BMO Capital Markets increased their price objective on shares of The Goldman Sachs Group from $972.00 to $1,070.00 and gave the company a “market perform” rating in a report on Monday, June 29th. JPMorgan Chase & Co. lifted their target price on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Finally, Rothschild & Co Redburn boosted their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $986.91.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total value of $1,044,776.88. Following the sale, the insider owned 2,578 shares in the company, valued at $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s 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 completion of the transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,681 shares of company stock valued at $31,737,875. Insiders own 0.55% of the company’s stock.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,150 from $1,050 and kept a buy rating, signaling confidence in further upside.
• Positive Sentiment: UBS also boosted its target to $1,120 from $940, reflecting a more constructive view on the stock ahead of earnings.
• Positive Sentiment: Analysts expect Goldman Sachs to post year-over-year earnings growth in its upcoming report, with commentary pointing to a high likelihood of an earnings beat.
• Positive Sentiment: Reuters reported that a strong quarter for Wall Street banks could be driven by higher trading revenue and advisory fees, including a boost from the SpaceX IPO and healthier M&A activity.
• Positive Sentiment: Goldman Sachs’ expanding role in EMEA M&A advisory underscores improving dealmaking trends that could support investment-banking revenue. Article Title
• Neutral Sentiment: Goldman Sachs is also in the news for market commentary and stock-picking calls on other companies, which is more about the firm’s research activity than a direct driver of GS earnings.
• Neutral Sentiment: The company’s hiring and technology-investment updates may help long-term efficiency, but they are not likely to move the stock much on their own.
• Negative Sentiment: Broader market weakness ahead of earnings season and some hedge-fund de-risking in tech and industrials may temper risk appetite for financial stocks in the near term.

The Goldman Sachs Group Price Performance

Shares of GS stock traded down $12.43 during trading hours on Tuesday, reaching $1,042.86. The company had a trading volume of 439,209 shares, compared to its average volume of 2,298,641. The Goldman Sachs Group, Inc. has a 12-month low of $691.30 and a 12-month high of $1,125.00. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $307.65 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.32 and a beta of 1.30. The stock has a fifty day moving average of $1,005.83 and a 200-day moving average of $933.17.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm had revenue of $17.23 billion for the quarter, compared to analysts’ expectations of $16.66 billion. During the same quarter in the previous year, the company posted $14.12 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were issued a $4.50 dividend. The ex-dividend date was Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The Goldman Sachs Group’s dividend payout ratio is currently 32.89%.

The Goldman Sachs Group Company 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.