Nordea Investment Management AB Sells 41,378 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Nordea Investment Management AB reduced its stake in The Goldman Sachs Group by 19.1%, selling 41,378 shares to own a total of 175,216 shares worth approximately $123.8 million.
• Insiders, including CEO David M. Solomon and CFO Denis P. Coleman, have sold shares recently, leading to a significant decrease in their respective ownership stakes in the company.
• The Goldman Sachs Group reported $12.25 earnings per share for the quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $4.00, reflecting a yield of 2.1%.

Nordea Investment Management AB trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 19.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,216 shares of the investment management company's stock after selling 41,378 shares during the period. Nordea Investment Management AB owned approximately 0.06% of The Goldman Sachs Group worth $123,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Dogwood Wealth Management LLC increased its holdings in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its holdings in The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC increased its holdings in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $750.71 on Friday. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23. The business's 50 day simple moving average is $765.25 and its 200 day simple moving average is $669.67. The company has a market cap of $227.25 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.40 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter last year, the business posted $8.40 earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group's dividend payout ratio (DPR) is 32.50%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group boosted their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a "neutral" rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a "market perform" rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a report on Tuesday, September 30th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus target price of $770.73.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

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