ICONIQ Capital LLC Sells 1,468 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• ICONIQ Capital LLC trimmed its stake by 76.7% in The Goldman Sachs Group during Q3, selling 1,468 shares and leaving the firm with 445 shares valued at about $354,000.
• Company insiders have been net sellers recently — insiders disposed of 117,283 shares totaling roughly $112 million over the last 90 days, including CAO Sheara J. Fredman (4,863 shares at $923.75) and EVP John F.W. Rogers (13,151 shares at $959.03).
• Goldman posted a quarterly beat with $13.55 EPS vs. $11.52 expected and raised its quarterly dividend to $4.50 (annualized $18.00, ~2.3% yield), up from $4.00 previously.

ICONIQ Capital LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 76.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 445 shares of the investment management company's stock after selling 1,468 shares during the quarter. ICONIQ Capital LLC's holdings in The Goldman Sachs Group were worth $354,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth about $26,000. First PREMIER Bank bought a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at approximately $28,000. Corundum Trust Company INC bought a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at approximately $29,000. Elevation Wealth Partners LLC lifted its holdings in The Goldman Sachs Group by 100.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company's stock worth $32,000 after purchasing an additional 20 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $31,000. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Sheara J. Fredman sold 4,863 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $923.75, for a total transaction of $4,492,196.25. Following the completion of the sale, the chief accounting officer owned 10,301 shares in the company, valued at $9,515,548.75. This trade represents a 32.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John F.W. Rogers sold 13,151 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $959.03, for a total transaction of $12,612,203.53. Following the sale, the executive vice president directly owned 39,007 shares of the company's stock, valued at approximately $37,408,883.21. The trade was a 25.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 117,283 shares of company stock valued at $112,016,033. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GS shares. BMO Capital Markets increased their price target on The Goldman Sachs Group from $980.00 to $985.00 and gave the company a "market perform" rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $815.00 to $826.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 10th. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Monday, January 19th. Argus raised their target price on shares of The Goldman Sachs Group from $863.00 to $1,066.00 and gave the company a "buy" rating in a research note on Friday, January 16th. Finally, Royal Bank Of Canada lifted their target price on shares of The Goldman Sachs Group from $900.00 to $1,030.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and an average price target of $919.29.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $781.99 on Monday. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.66 and a quick ratio of 0.66. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $984.70. The company has a fifty day moving average price of $910.83 and a 200 day moving average price of $844.34. The stock has a market cap of $232.06 billion, a P/E ratio of 15.25, a PEG ratio of 0.96 and a beta of 1.34.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $2.03. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.72%. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the business posted $11.95 EPS. The business's quarterly revenue was down 3.0% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.00. The Goldman Sachs Group's payout ratio is currently 35.09%.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman highlights that the current energy supply shock should spur investment in grid infrastructure and storage — a potential source of advisory, underwriting and asset-management fees for GS. Current energy supply shock will drive investment into grid infrastructure and storage solutions: GS
• Positive Sentiment: Several pieces note GS is deeply oversold technically and that analysts remain constructive (recent price-targets above current levels), which could support a relief rally if markets stabilize or capital-markets activity picks up. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Neutral Sentiment: Governance update — board member Lakshmi Mittal announced retirement. Routine board turnover can be relevant for long-term governance but is unlikely to drive immediate price action. Goldman Sachs Announces Retirement of Board Member Mittal
• Neutral Sentiment: Goldman trimmed a derivative-based stake in Siemens Energy to just under 5% — a portfolio move that signals repositioning but is not a major earnings driver for GS itself. Goldman Sachs Trims Derivative-Based Stake in Siemens Energy to Just Under 5%
• Negative Sentiment: Immediate sell pressure was linked to investor worries about the stability of the private credit market after a key bank announcement — contagion concerns in private markets tend to hit large universal banks and asset managers. Why Goldman Sachs (GS) Shares Are Sliding Today
• Negative Sentiment: Goldman’s elevated oil-price forecasts and widespread supply-shock commentary (Brent near $100+ forecasts and warning of much higher spikes) have helped push Treasury yields and a risk-off tone — that environment has weighed on financials and contributed to GS’s intraday weakness. Goldman Sachs forecasts oil at $100 a barrel for March
• Negative Sentiment: Macroeconomic outlook shifts — Goldman pushed back its Fed rate-cut timeline (now expecting cuts later in the year), which, together with oil-driven inflation risk, is keeping markets cautious and depressing risk assets including bank stocks. Goldman now sees first Fed rate cut in September, not June

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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