North Dakota State Investment Board Makes New $9.06 Million Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• North Dakota State Investment Board opened a new position in Goldman Sachs, buying 10,308 shares valued at about $9.06 million in the fourth quarter.
• Goldman Sachs reported strong quarterly earnings, posting $17.55 EPS versus the $15.92 consensus estimate and revenue of $17.23 billion, up 14.4% year over year.
• The company also declared a $4.50 quarterly dividend, payable June 29, while analysts currently have a consensus Hold rating with a $942.24 price target.

North Dakota State Investment Board purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,308 shares of the investment management company's stock, valued at approximately $9,061,000.

A number of other large investors have also made changes to their positions in GS. Dagco Inc. acquired a new position in shares of The Goldman Sachs Group during the fourth quarter worth $25,000. Manning & Napier Advisors LLC increased its position in shares of 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 purchasing an additional 23 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Graney & King LLC increased its position in shares of 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 purchasing an additional 17 shares in the last quarter. Finally, Joseph Group Capital Management acquired a new position in shares of The Goldman Sachs Group during the fourth quarter worth $37,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the company'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 directly owned 2,578 shares of the company's stock, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,824 shares of company stock valued at $25,062,242 in the last ninety days. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $949.89 on Monday. 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's fifty day moving average price is $878.61 and its 200 day moving average price is $878.95. The Goldman Sachs Group, Inc. has a 1 year low of $582.50 and a 1 year high of $984.70. The company has a market cap of $280.23 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.22 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its 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 Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. During the same period in the prior year, the firm earned $14.12 EPS. The firm's revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be given a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GS shares. Bank of America reduced their price target on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company reduced their price target on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating on the stock in a research report on Monday, April 13th. BNP Paribas Exane reduced their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Evercore reduced their price target on The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating on the stock in a research report on Monday, April 6th. Finally, Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $942.24.

The Goldman Sachs Group News Summary

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 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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