Orange Investment Advisors Inc. Sells 1,948 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Orange Investment Advisors Inc. reduced its Goldman Sachs stake by 23.6% in the fourth quarter, selling 1,948 shares and leaving it with 6,301 shares valued at about $5.54 million.
• Goldman Sachs posted strong quarterly results, with EPS of $17.55 and revenue of $17.23 billion, both ahead of analyst expectations. Revenue rose 14.4% year over year.
• Analysts remain cautious overall: Goldman has a consensus Hold rating and an average price target of $943.95, even though some firms recently raised or lowered their targets. The stock also recently declared a quarterly dividend of $4.50 per share.

Orange Investment Advisors Inc. trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 23.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,301 shares of the investment management company's stock after selling 1,948 shares during the quarter. Orange Investment Advisors Inc.'s holdings in The Goldman Sachs Group were worth $5,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dagco Inc. purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $25,000. Manning & Napier Advisors LLC grew its stake in shares of The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after acquiring an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Entrust Financial LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth approximately $34,000. Finally, Graney & King LLC grew its position in 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 worth $35,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BMO Capital Markets upped their price objective on The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a research report on Monday, April 20th. Daiwa Securities Group increased their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. BNP Paribas Exane decreased their price target on shares of 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 cut their price objective on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating for the company in a research report on Monday, April 6th. Finally, Wells Fargo & Company decreased their target price on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating on the stock in a report on Monday, April 13th. Nine equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and an average target price of $943.95.

Insider Transactions at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares of the company's stock, valued at $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 in the last ninety days. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.7%

The Goldman Sachs Group stock opened at $988.52 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $582.50 and a 1 year high of $999.50. The firm's 50 day moving average price is $889.04 and its 200-day moving average price is $883.81. 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 has a market cap of $291.62 billion, a P/E ratio of 18.07, a PEG ratio of 1.27 and a beta of 1.28.

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 analysts' consensus estimates of $15.92 by $1.63. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $14.12 EPS. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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 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 payout ratio is currently 32.89%.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs was selected to lead SpaceX’s planned IPO, a marquee mandate that could generate significant fees and reinforce GS’s reputation as a top-tier investment bank. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal
• Positive Sentiment: Multiple articles highlighted Goldman’s expanding role in capital markets, including stronger-than-expected investment banking results, broader alternatives financing activity, and the high-profile SpaceX deal, all of which support the bull case for GS. How SpaceX IPO Mandate and Alternatives Push At Goldman Sachs (GS) Has Changed Its Investment Story
• Positive Sentiment: Market commentary and analyst-related coverage continued to list Goldman Sachs as a favored financial-stock pick, adding to investor optimism around the shares. Nvidia, Alphabet, Delta Air And A Financial Stock On CNBC's 'Final Trades'
• Neutral Sentiment: Goldman also appeared in several unrelated market stories, including oil and Iran headlines and conference announcements, which are not direct drivers of GS fundamentals. Iran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’
• Negative Sentiment: Goldman agreed to pay $500 million to settle a shareholder lawsuit tied to the 1MDB scandal, creating a legal-cost headwind and reminding investors of lingering litigation risk. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.