Odyssey Capital Advisors Inc. Acquires New Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Odyssey Capital Advisors opened a new position in Goldman Sachs during the fourth quarter, buying 2,347 shares valued at about $2.06 million. The stake now represents roughly 1.8% of its portfolio.
• Goldman Sachs reported strong quarterly results, with earnings of $17.55 per share beating estimates and revenue of $17.23 billion topping forecasts. Revenue rose 14.4% year over year.
• The company also declared a quarterly dividend of $4.50 per share, payable June 29, for an annualized payout of $18.00 and a 1.9% yield. Meanwhile, analysts remain mixed, with a consensus rating of Hold and an average target price of $942.24.

Odyssey Capital Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,347 shares of the investment management company's stock, valued at approximately $2,063,000. The Goldman Sachs Group accounts for about 1.8% of Odyssey Capital Advisors Inc.'s portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dagco Inc. purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $25,000. Manning & Napier Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after purchasing an additional 23 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $31,000. Graney & King LLC boosted its holdings in shares of The Goldman Sachs Group by 51.5% in the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company's stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Finally, Joseph Group Capital Management acquired a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $37,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 0.1%

GS stock opened at $949.89 on Monday. The Goldman Sachs Group, Inc. has a 12-month low of $582.50 and a 12-month high of $984.70. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. 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 company has a 50 day moving average of $878.61 and a two-hundred day moving average of $878.95.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating analysts' consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The Goldman Sachs Group's revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $14.12 EPS. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be given a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 32.89%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GS. Royal Bank Of Canada reiterated a "neutral" rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Wells Fargo & Company lowered their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating for the company in a research report on Monday, April 13th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. Bank of America decreased their target price on shares of The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Finally, Morgan Stanley decreased their target price on shares of The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $942.24.

More The Goldman Sachs Group News

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

Insiders Place Their Bets

In related news, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the completion of the transaction, the insider directly owned 2,578 shares of the company's stock, valued at $2,413,472.04. This trade represents a 30.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction dated 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 transaction, the chief accounting officer directly owned 6,338 shares of the company's stock, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,824 shares of company stock worth $25,062,242 in the last ninety days. Insiders own 0.55% of the company's stock.

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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