Andra AP fonden Sells 1,840 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Andra AP fonden reduced its stake in Goldman Sachs by 5.0% in the first quarter, selling 1,840 shares and ending with 34,597 shares valued at about $29.3 million.
• Goldman Sachs reported strong quarterly results, posting EPS of $20.98 versus estimates of $14.47 and revenue of $20.34 billion, with revenue up 39.4% from a year earlier.
• The company also raised its quarterly dividend to $5.00 per share from $4.50, bringing the annualized payout to $20 and a yield of about 1.9%.

Andra AP fonden lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,597 shares of the investment management company's stock after selling 1,840 shares during the quarter. Andra AP fonden's holdings in The Goldman Sachs Group were worth $29,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilkerson Advisory Group LLC lifted its position in The Goldman Sachs Group by 36.7% in the 1st quarter. Wilkerson Advisory Group LLC now owns 82 shares of the investment management company's stock valued at $69,000 after acquiring an additional 22 shares in the last quarter. Glenview Trust Co increased its stake in shares of The Goldman Sachs Group by 1.3% in the first quarter. Glenview Trust Co now owns 99,453 shares of the investment management company's stock worth $84,136,000 after purchasing an additional 1,290 shares in the last quarter. One Charles Private Wealth Services LLC lifted its position in shares of The Goldman Sachs Group by 33.8% during the first quarter. One Charles Private Wealth Services LLC now owns 396 shares of the investment management company's stock worth $335,000 after acquiring an additional 100 shares in the last quarter. Rice Partnership LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth about $7,485,000. Finally, Convergence Investment Partners LLC grew its position in shares of The Goldman Sachs Group by 229.1% during the 1st quarter. Convergence Investment Partners LLC now owns 1,695 shares of the investment management company's stock valued at $1,434,000 after purchasing an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 1.0%

GS opened at $1,054.16 on Tuesday. The Goldman Sachs Group, Inc. has a one year low of $691.88 and a one year high of $1,153.99. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The business has a 50 day simple moving average of $1,037.38 and a two-hundred day simple moving average of $947.02. The firm has a market capitalization of $310.99 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.11 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The business had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same period last year, the business posted $10.91 earnings per share. The Goldman Sachs Group's quarterly revenue was up 39.4% compared to the same quarter last year. Analysts predict that The Goldman Sachs Group, Inc. will post 66.83 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a $5.00 dividend. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $4.50. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling

In related news, insider Alex S. Golten sold 1,116 shares of the firm'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 transaction of $1,044,776.88. Following the completion of the sale, the insider owned 2,578 shares of the company's stock, valued at $2,413,472.04. This trade represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares of the company's stock, valued at $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,566 shares of company stock worth $30,712,978 in the last 90 days. Corporate insiders own 0.55% of the company's stock.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs’ research and market commentary are reinforcing a constructive view on the bank sector, with articles highlighting strong Q2 beats, double-digit earnings growth expectations, and attractive non-AI investment themes. This can help sentiment around GS as investors rotate toward financials and away from crowded tech trades. Zacks Market Edge Highlights: Goldman Sachs, Wells Fargo, JPMorgan Chase , Citigroup and Bank of America
• Positive Sentiment: Goldman Sachs is also getting attention for highlighting “non-AI” winners and for noting that hedge funds are trimming tech exposure at a record pace, which suggests a possible sector rotation into value and financials. That backdrop may be helping GS outperform broader market caution around tech. Buy These Five Non-AI Stocks, Says Goldman Sachs (GS)
• Positive Sentiment: Several reports point to Goldman Sachs’ strong positioning and successful calls around market themes, including recommendations tied to the cooling AI trade. That can boost confidence in GS as a research leader and a beneficiary of active trading and advisory activity. Scared of the AI trade? Here are three investment themes instead, says Goldman Sachs
• Neutral Sentiment: Goldman Sachs also reported on inflation broadening out, which is a macro observation rather than a direct company catalyst. It may influence rate expectations and bank-sector trading, but the impact on GS is indirect. Inflation is broadening out, says Goldman economist
• Neutral Sentiment: The firm announced a proposed public offering of depositary shares / preferred stock. While this strengthens funding flexibility, investors may also see it as a mild overhang because it can increase share count or signal balance-sheet management needs. Goldman Sachs Plans New Preferred Stock Offering
• Negative Sentiment: Goldman Sachs’ warning that hedge funds are selling U.S. tech stocks at a record pace underscores rising market volatility and a more cautious risk backdrop. Even if that rotation helps banks relatively, it can still make investors more defensive overall. Goldman Says Hedge Funds Sell US Tech Stocks at Record Pace

Analysts Set New Price Targets

Several brokerages have issued reports on GS. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a "market perform" rating in a research report on Wednesday, July 15th. Weiss Ratings cut shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. CICC Research lifted 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 report on Tuesday, May 19th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Barclays increased their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $1,061.43.

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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