Commerzbank Aktiengesellschaft FI Buys 2,425 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Goldman Sachs by 4.0% in the fourth quarter, buying 2,425 additional shares to bring its total to 63,242 shares valued at about $55.6 million.
• Goldman Sachs reported better-than-expected quarterly results, with EPS of $17.55 versus the $15.92 consensus and revenue of $17.23 billion versus estimates of $16.66 billion, while revenue rose 14.4% year over year.
• The company also announced a quarterly dividend of $4.50 per share, and despite some analyst price-target changes, the stock remains rated “Hold” on average with a consensus target of $942.24.

Commerzbank Aktiengesellschaft FI raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,242 shares of the investment management company's stock after acquiring an additional 2,425 shares during the quarter. The Goldman Sachs Group makes up 1.1% of Commerzbank Aktiengesellschaft FI's holdings, making the stock its 25th largest holding. Commerzbank Aktiengesellschaft FI's holdings in The Goldman Sachs Group were worth $55,590,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GS. Dagco Inc. bought a new position in The Goldman Sachs Group in the 4th quarter valued at $25,000. Manning & Napier Advisors LLC grew its position in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after acquiring an additional 23 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at $31,000. Graney & King LLC grew its position in The Goldman Sachs Group by 51.5% in the 2nd 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 bought a new position in The Goldman Sachs Group in the 4th quarter valued at $37,000. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 2.0%

Shares of NYSE GS opened at $949.89 on Friday. 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 has a market capitalization of $280.23 billion, a P/E 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 business has a fifty day moving average price of $878.61 and a 200 day moving average price of $878.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping analysts' consensus estimates of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analysts' expectations of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The firm's quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $14.12 EPS. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is 32.89%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GS. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. BMO Capital Markets upped their target price on The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a "market perform" rating in a report on Monday, April 20th. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $971.00 to $1,000.00 and gave the stock a "market perform" rating in a report on Friday, January 16th. Jefferies Financial Group lowered their target price on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating for the company in a report on Monday, April 6th. Finally, HSBC upped their target price on The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $942.24.

Insider Buying and Selling

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the company's stock in a transaction 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 completion of the sale, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the company's stock in a transaction on 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 owned 6,338 shares of the company's stock, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,824 shares of company stock worth $25,062,242 in the last three months. 0.55% of the stock is owned by insiders.

Key The Goldman Sachs Group News

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 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.

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