Legal & General Group Plc Sells 76,763 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Legal & General Group Plc trimmed its Goldman Sachs stake by 3.6% in the fourth quarter, selling 76,763 shares and ending with 2,033,356 shares valued at about $1.79 billion.
• Goldman Sachs reported better-than-expected first-quarter earnings, with EPS of $17.55 versus the $15.92 estimate and revenue of $17.23 billion, up 14.4% year over year.
• The company faces some mixed sentiment: it landed a major role as lead underwriter for SpaceX’s planned IPO, but also agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal.

Legal & General Group Plc lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,033,356 shares of the investment management company's stock after selling 76,763 shares during the quarter. Legal & General Group Plc owned 0.68% of The Goldman Sachs Group worth $1,787,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dagco Inc. bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $25,000. Manning & Napier Advisors LLC grew its stake in 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 worth $27,000 after buying an additional 23 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $31,000. Entrust Financial LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $34,000. Finally, Graney & King LLC grew its stake in The Goldman Sachs Group by 51.5% during 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 during the last quarter. Institutional investors own 71.21% 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 was selected as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $996.73 on Monday. The Goldman Sachs Group, Inc. has a 1 year low of $582.50 and a 1 year high of $1,005.36. The firm's 50 day moving average is $892.51 and its 200-day moving average is $885.29. The firm has a market capitalization of $294.04 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.28 and a beta of 1.28. 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 (NYSE:GS - Get Free Report) last announced its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same period in the prior year, the business earned $14.12 earnings per share. The Goldman Sachs Group's quarterly revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast 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 announced 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. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GS. Evercore decreased their price objective on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Royal Bank Of Canada reaffirmed a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Morgan Stanley decreased their price objective on shares of The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Finally, Bank of America decreased their price objective 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 research note on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $943.95.

Insider Activity at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares in the company, valued at $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,681 shares of company stock valued at $31,737,875 over the last ninety days. Company insiders own 0.55% of the company's stock.

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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