AMJ Financial Wealth Management Sells 2,651 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• AMJ Financial Wealth Management cut its Goldman Sachs stake by 14.6% in the fourth quarter, selling 2,651 shares and leaving it with 15,483 shares worth about $13.6 million.
• Despite the sale, Goldman Sachs remains a major institutional holding overall, with 71.21% of shares owned by institutions and hedge funds. Vanguard, Fisher, Invesco and others all increased their positions in recent quarters.
• Wall Street remains cautious on GS: analysts currently have a consensus "Hold" rating with an average target price of $942.24, even after Goldman posted stronger-than-expected quarterly earnings and revenue.

AMJ Financial Wealth Management reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,483 shares of the investment management company's stock after selling 2,651 shares during the quarter. The Goldman Sachs Group comprises approximately 3.2% of AMJ Financial Wealth Management's portfolio, making the stock its 2nd largest holding. AMJ Financial Wealth Management's holdings in The Goldman Sachs Group were worth $13,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of GS. Vanguard Group Inc. grew its position in 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 worth $25,503,685,000 after purchasing an additional 418,820 shares during the last quarter. Fisher Asset Management LLC grew its position in The Goldman Sachs Group by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 6,661,422 shares of the investment management company's stock worth $5,304,824,000 after purchasing an additional 121,676 shares during the last quarter. Invesco Ltd. grew its position in The Goldman Sachs Group by 3.5% during the 3rd quarter. Invesco Ltd. now owns 2,913,172 shares of the investment management company's stock worth $2,319,905,000 after purchasing an additional 97,387 shares during the last quarter. Legal & General Group Plc grew its position in The Goldman Sachs Group by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 2,110,119 shares of the investment management company's stock worth $1,680,393,000 after purchasing an additional 28,642 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in 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 purchasing an additional 936,015 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Daiwa Securities Group raised their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Dbs Bank raised their price objective on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. BNP Paribas Exane lowered their target price on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $971.00 to $1,000.00 and gave the company a "market perform" rating in a report on Friday, January 16th. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $942.24.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs lowered its 12-month U.S. recession probability to 25% from 30%, citing a resilient labor market and solid economic activity. That suggests a healthier macro backdrop for banks and markets overall. Goldman Slashes Recession Risk Odds as Labor Market Remains Resilient
• Neutral Sentiment: Goldman Sachs analysts remained active across several names, including Buy ratings on Telefonica, MercadoLibre, Insulet, Marathon Petroleum, UnitedHealth and ORIC Pharma, showing the firm continues to influence market sentiment but without direct impact on GS itself.
• Neutral Sentiment: There were also multiple media references to Goldman strategists warning that the recent market rally and volatility setup could imply more upside, but those commentary pieces were market-wide in nature and not specific to Goldman Sachs stock.
• Negative Sentiment: Financial stocks were weaker in afternoon trading, with the NYSE Financial Index down about 0.5%, which likely pressured Goldman Sachs shares along with the broader sector. Sector Update: Financial Stocks Lower in Afternoon Trading

The Goldman Sachs Group Stock Performance

Shares of GS opened at $949.89 on Friday. 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 stock has a market cap of $280.23 billion, a P/E ratio of 17.36, a PEG ratio of 1.25 and a beta of 1.28. The company has a 50-day moving average of $878.61 and a two-hundred day moving average of $878.32. The Goldman Sachs Group, Inc. has a 12-month low of $582.50 and a 12-month high of $984.70.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $15.92 by $1.63. The company had revenue of $17.23 billion during 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 firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $14.12 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group's payout ratio is currently 32.89%.

Insider Activity

In related news, insider Alex S. Golten sold 1,116 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 2,578 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the sale, the chief accounting officer owned 6,338 shares of the company's stock, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,824 shares of company stock valued at $25,062,242 over the last 90 days. Insiders own 0.55% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.