Barr E S & Co. Sells 2,597 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Barr E S & Co. trimmed its Goldman Sachs stake by 1.7% in the fourth quarter, selling 2,597 shares and still holding 146,426 shares worth about $128.7 million. Goldman remains its 4th-largest position and about 6.7% of the portfolio.
• Analyst sentiment on GS is mixed: several firms adjusted price targets, but the overall consensus remains Hold with an average target of $942.24. Eight analysts rate it Buy, while 14 rate it Hold.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 beating estimates and revenue of $17.23 billion rising 14.4% year over year. The company also declared a quarterly dividend of $4.50 per share, payable June 29.

Barr E S & Co. lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 146,426 shares of the investment management company's stock after selling 2,597 shares during the quarter. The Goldman Sachs Group comprises about 6.7% of Barr E S & Co.'s investment portfolio, making the stock its 4th largest position. Barr E S & Co.'s holdings in The Goldman Sachs Group were worth $128,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dagco Inc. bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC grew its stake in shares of The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after purchasing an additional 23 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $31,000. Graney & King LLC boosted its holdings in 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 valued at $35,000 after acquiring an additional 17 shares during the last quarter. Finally, Joseph Group Capital Management acquired a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GS shares. Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Jefferies Financial Group dropped their target price on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Dbs Bank lifted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. BNP Paribas Exane dropped their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Finally, Rothschild & Co Redburn lifted their target price on The Goldman Sachs Group from $839.00 to $870.00 and gave the company a "neutral" rating in a research report on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the business's stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alex S. Golten sold 1,116 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total value of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares in the company, valued at $2,413,472.04. This trade represents a 30.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,824 shares of company stock valued at $25,062,242 in the last 90 days. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Down 2.0%

Shares of 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 Goldman Sachs Group, Inc. has a 1 year low of $582.50 and a 1 year high of $984.70. The firm's fifty day moving average price is $878.61 and its two-hundred day moving average price is $878.32. The firm has a market capitalization of $280.23 billion, a P/E ratio of 17.36, a PEG ratio of 1.22 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $16.66 billion. During the same period in the previous year, the business earned $14.12 EPS. The company's revenue was up 14.4% compared to the same quarter last year. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group's payout ratio is 32.89%.

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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