LGT Fund Management Co Ltd. Takes $1.07 Million Position in The Goldman Sachs Group, Inc. $GS

Key Points

• LGT Fund Management Co. Ltd. opened a new position in Goldman Sachs, buying 1,268 shares valued at about $1.07 million in the first quarter.
• Goldman Sachs is drawing attention from institutions and analysts, with institutional investors owning 71.21% of the stock and several research firms recently raising price targets. The consensus rating remains Hold, with an average target of $986.91.
• The company posted strong recent results, reporting $17.55 EPS and $17.23 billion in revenue for the latest quarter, both above expectations, while shares were trading near $1,056, close to the stock’s 52-week high.

LGT Fund Management Co Ltd. purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,268 shares of the investment management company's stock, valued at approximately $1,073,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Audent Global Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 10.1% during the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock worth $4,604,000 after buying an additional 479 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in The Goldman Sachs Group by 3.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 215,482 shares of the investment management company's stock valued at $189,409,000 after acquiring an additional 8,154 shares during the last quarter. Oak Grove Capital LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at about $1,890,000. Nomura Asset Management Co. Ltd. raised its stake in The Goldman Sachs Group by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company's stock worth $124,809,000 after acquiring an additional 3,653 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its holdings in shares of The Goldman Sachs Group by 2.3% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 56,027 shares of the investment management company's stock worth $49,248,000 after acquiring an additional 1,275 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What's in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 1,116 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the sale, the insider owned 2,578 shares of the company's stock, valued at $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares of the company's stock, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 33,681 shares of company stock worth $31,737,875. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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 research note on Tuesday, May 5th. Weiss Ratings raised shares of The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, June 30th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 23rd. 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, BMO Capital Markets increased their price target on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the company a "market perform" rating in a research note on Monday, June 29th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $986.91.

The Goldman Sachs Group Stock Up 0.1%

NYSE:GS opened at $1,056.04 on Monday. The Goldman Sachs Group, Inc. has a one year low of $691.30 and a one year high of $1,125.00. 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 company has a market cap of $311.54 billion, a PE ratio of 19.30, a P/E/G ratio of 1.35 and a beta of 1.30. The firm's 50 day simple moving average is $1,017.99 and its 200 day simple moving average is $938.92.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced 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 firm had revenue of $17.23 billion during 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 company's revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $14.12 EPS. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 earnings per share for the current year.

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.

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