J. Safra Sarasin Holding AG Purchases 1,813 Shares of The Goldman Sachs Group, Inc. $GS

J. Safra Sarasin Holding AG raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 15.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,391 shares of the investment management company’s stock after buying an additional 1,813 shares during the period. J. Safra Sarasin Holding AG’s holdings in The Goldman Sachs Group were worth $11,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of 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 The Goldman Sachs Group in the fourth quarter worth $26,000. Manning & Napier Advisors LLC grew its holdings 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 worth $27,000 after purchasing an additional 23 shares during the last quarter. Steph & Co. acquired a new position in shares of The Goldman Sachs Group during the first quarter worth $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

Insider Activity

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the completion of the transaction, the insider owned 2,578 shares in the company, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HSBC raised their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research report on Monday, May 4th. Citigroup increased their price target on 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. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. BNP Paribas Exane dropped their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, Morgan Stanley upped their price objective on shares of The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $986.91.

The Goldman Sachs Group Trading Up 0.1%

The Goldman Sachs Group stock opened at $1,056.04 on Monday. The firm has a market cap of $311.54 billion, a PE ratio of 19.30, a P/E/G ratio of 1.35 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 12 month low of $691.30 and a 12 month high of $1,125.00. The stock’s 50 day simple moving average is $1,017.99 and its two-hundred day simple moving average is $938.92. 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 Goldman Sachs Group (NYSE:GS) last posted its 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 during the quarter, compared to analyst estimates of $16.66 billion. During the same period in the previous year, the firm earned $14.12 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 earnings per share for the current year.

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.