Pzena Investment Management LLC Sells 111,327 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Pzena Investment Management cut its Goldman Sachs stake by 90.1% in the fourth quarter, selling 111,327 shares and leaving it with 12,225 shares worth about $10.7 million.
• Goldman Sachs beat Q1 earnings expectations, reporting $17.55 EPS versus the $15.92 estimate and revenue of $17.23 billion, up 14.4% year over year.
• Sentiment on GS remains mixed: analysts currently have an average “Hold” rating with a consensus price target of $943.95, while insiders sold 33,681 shares over the last 90 days.

Pzena Investment Management LLC lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 90.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,225 shares of the investment management company's stock after selling 111,327 shares during the period. Pzena Investment Management LLC's holdings in The Goldman Sachs Group were worth $10,746,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GS. Brighton Jones LLC boosted its stake in shares of The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after buying an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after buying an additional 58 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of The Goldman Sachs Group by 90.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company's stock worth $1,098,000 after buying an additional 735 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of The Goldman Sachs Group by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company's stock worth $581,000 after buying an additional 70 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in shares of The Goldman Sachs Group by 22.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company's stock worth $1,522,000 after buying an additional 391 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on GS. Rothschild & Co Redburn increased their price objective on shares of The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a "neutral" rating in a research note on Friday, April 17th. BMO Capital Markets increased their price objective on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a "market perform" rating in a research note on Monday, April 20th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. Bank of America reduced their price objective 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 note on Tuesday, April 14th. Finally, Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Nine research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus price target of $943.95.

The Goldman Sachs Group Trading Up 0.9%

Shares of NYSE:GS opened at $996.73 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $582.50 and a 52-week high of $1,005.36. The company has a market capitalization of $294.04 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.28. The company has a 50-day simple moving average of $892.51 and a 200 day simple moving average of $884.59. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued 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 business had revenue of $17.23 billion during 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 was up 14.4% on a year-over-year basis. During the same period last year, the business posted $14.12 EPS. Sell-side 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is currently 32.89%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the stock in a transaction dated 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 transaction, the insider directly owned 2,578 shares of the company's stock, valued at $2,413,472.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the 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 completion of the transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,681 shares of company stock valued at $31,737,875 in the last 90 days. Insiders own 0.55% of the company's stock.

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 as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

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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