Worth Asset Management LLC Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Worth Asset Management LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 74.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 239 shares of the investment management company’s stock after selling 683 shares during the period. Worth Asset Management LLC’s holdings in The Goldman Sachs Group were worth $202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $2,515,830,000. Corient Private Wealth LLC boosted its stake in shares of The Goldman Sachs Group by 1,657.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after acquiring an additional 2,448,767 shares during the last quarter. 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 during the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 valued at $488,947,000 after acquiring an additional 450,984 shares during the period. Finally, Vanguard Group Inc. grew its position 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 valued at $25,503,685,000 after acquiring an additional 418,820 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at $30,248,198.50. This represents a 18.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the company’s 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 transaction, the chief accounting officer owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Down 0.9%

Shares of GS stock opened at $1,096.33 on Wednesday. The company 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 Goldman Sachs Group, Inc. has a one year low of $653.23 and a one year high of $1,125.00. The company’s fifty day moving average price is $987.12 and its 200-day moving average price is $924.38. 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 (NYSE:GS) last released its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The company had revenue of $17.23 billion for the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The Goldman Sachs Group’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $14.12 EPS. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be given a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group’s payout ratio is presently 32.89%.

The Goldman Sachs Group News Summary

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

Analysts Set New Price Targets

GS has been the subject of several analyst reports. Citigroup upped their price objective on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Rothschild & Co Redburn boosted their price target on The Goldman Sachs Group from $839.00 to $870.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Morgan Stanley set a $900.00 price target on The Goldman Sachs Group in a research report on Friday, June 12th. Finally, HSBC raised their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $949.55.

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.