AustralianSuper Pty Ltd Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• AustralianSuper Pty Ltd sharply reduced its Goldman Sachs stake, cutting holdings by 83.8% in the fourth quarter to 27,806 shares worth about $24.4 million.
• Several other institutional investors also adjusted positions in GS, and 71.21% of the stock is still owned by institutions overall.
• Goldman Sachs reported strong quarterly results with EPS of $17.55 versus estimates of $15.92 and revenue of $17.23 billion, while analysts currently rate the stock a Hold on average with a consensus target price of $942.24.

AustralianSuper Pty Ltd trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 83.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,806 shares of the investment management company's stock after selling 143,543 shares during the period. AustralianSuper Pty Ltd's holdings in The Goldman Sachs Group were worth $24,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Dagco Inc. bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $25,000. Manning & Napier Advisors LLC lifted its holdings in shares of 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 buying an additional 23 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth about $31,000. Graney & King LLC lifted its holdings in shares of The Goldman Sachs Group by 51.5% in the second quarter. Graney & King LLC now owns 50 shares of the investment management company's stock worth $35,000 after buying an additional 17 shares in the last quarter. Finally, Joseph Group Capital Management purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth about $37,000. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GS. Bank of America lowered their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Daiwa Securities Group raised their price target on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. UBS Group raised their price target on shares of The Goldman Sachs Group from $930.00 to $940.00 in a report on Wednesday, May 6th. 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 raised their price target 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 research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $942.24.

Key Stories Impacting 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 Down 2.0%

GS stock 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 company's 50 day moving average is $878.61 and its 200 day moving average is $878.32. The stock has a market cap of $280.23 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28. The Goldman Sachs Group, Inc. has a 1-year low of $582.50 and a 1-year high of $984.70.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $14.12 earnings per share. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business 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 dividend of $4.50 per share. The ex-dividend date is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group's dividend payout ratio (DPR) is 32.89%.

Insider Activity

In other news, insider Alex S. Golten sold 1,116 shares of the firm's stock in a transaction 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 sale, the insider owned 2,578 shares in the company, valued at approximately $2,413,472.04. This trade represents a 30.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction dated Friday, May 1st. The stock was 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 of the company's stock, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 26,824 shares of company stock worth $25,062,242. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Company 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.

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.