TD Private Client Wealth LLC Raises Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• TD Private Client Wealth LLC increased its stake in Goldman Sachs by 85.9% in the fourth quarter, buying 2,984 more shares and lifting its total holdings to 6,459 shares valued at about $5.68 million.
• Goldman Sachs reported strong first-quarter results, with EPS of $17.55 beating estimates and revenue of $17.23 billion topping expectations, while quarterly revenue rose 14.4% year over year.
• The company also declared a quarterly dividend of $4.50 per share payable June 29, and analysts currently have a Hold consensus with an average price target of $942.24.

TD Private Client Wealth LLC lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 85.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,459 shares of the investment management company's stock after buying an additional 2,984 shares during the quarter. TD Private Client Wealth LLC's holdings in The Goldman Sachs Group were worth $5,677,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GS. Brighton Jones LLC boosted its stake in shares of The Goldman Sachs Group by 17.1% in the fourth 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% in the fourth 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% in the second 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% in the second 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% in the second 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. Hedge funds and other institutional investors own 71.21% of the company's stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the firm's stock in a transaction on Friday, May 1st. The stock was 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 owned 6,338 shares of the company's stock, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the sale, the insider directly owned 15,657 shares of the company's stock, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,824 shares of company stock valued at $25,062,242. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $949.89 on Monday. The company has a market cap of $280.23 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.28. The stock's 50 day simple moving average is $878.61 and its 200-day simple moving average 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 debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63.

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 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 business had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. During the same quarter last year, the business posted $14.12 earnings per share. The business's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 EPS 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. Investors of record on Monday, June 1st will be issued 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 (DPR) is currently 32.89%.

Key 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

Wall Street Analysts Forecast Growth

GS has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on 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. Bank of America lowered their target price on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Daiwa Securities Group upped their target price on 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. UBS Group increased their price target on The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Finally, Weiss Ratings downgraded The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. 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 MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and an average target price of $942.24.

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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