AMF Tjanstepension AB Purchases 4,425 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• AMF Tjanstepension AB increased its stake in Goldman Sachs by 3.2% in the first quarter, buying 4,425 additional shares and bringing its total holding to 141,495 shares worth about $119.7 million.
• Wall Street sentiment remains mixed but constructive on GS, with a consensus “Hold” rating and a target price of $986.91, while several firms recently raised their price targets ahead of earnings.
• Goldman Sachs has posted strong recent results and may benefit from upcoming Q2 earnings, with analysts expecting solid investment-banking and trading revenue after the company beat first-quarter EPS and revenue estimates.

AMF Tjanstepension AB grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,495 shares of the investment management company's stock after acquiring an additional 4,425 shares during the quarter. AMF Tjanstepension AB's holdings in The Goldman Sachs Group were worth $119,703,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. J. Safra Sarasin Holding AG boosted its stake in The Goldman Sachs Group by 15.7% in the first quarter. J. Safra Sarasin Holding AG now owns 13,391 shares of the investment management company's stock worth $11,147,000 after purchasing an additional 1,813 shares in the last quarter. Tradewinds LLC. acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at about $220,000. LGT Fund Management Co Ltd. acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at about $1,073,000. Global Assets Advisory LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $607,000. Finally, International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter worth approximately $2,024,921,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of research reports. BNP Paribas Exane lowered their price target on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Zacks Research cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Weiss Ratings upgraded The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 30th. Finally, BMO Capital Markets upped their price target on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the company a "market perform" rating in a research note on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $986.91.

Key Stories Impacting The Goldman Sachs Group

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 Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the sale, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 33,681 shares of company stock worth $31,737,875. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.1%

NYSE GS opened at $1,056.04 on Monday. The firm has a market cap of $311.54 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.35 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 stock's 50-day moving average is $1,017.99 and its 200-day moving average is $938.92. The Goldman Sachs Group, Inc. has a one year low of $691.30 and a one year high of $1,125.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced 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 firm 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 business's quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the company posted $14.12 EPS. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 earnings per share for the current fiscal year.

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.

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