The Goldman Sachs Group, Inc. $GS Position Increased by May Hill Capital LLC

Key Points

• May Hill Capital LLC more than doubled its stake in Goldman Sachs during the fourth quarter, increasing holdings by 101.3% to 2,402 shares valued at about $2.11 million.
• Goldman Sachs delivered strong first-quarter results, posting EPS of $17.55 versus estimates of $15.92 and revenue of $17.23 billion, both ahead of expectations and up 14.4% year over year.
• Wall Street remains cautious despite the earnings beat, with analysts’ average rating at “Hold” and an average target price of $942.24, while recent insider sales and sector weakness may be weighing on sentiment.

May Hill Capital LLC raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 101.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,402 shares of the investment management company's stock after buying an additional 1,209 shares during the period. May Hill Capital LLC's holdings in The Goldman Sachs Group were worth $2,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hartline Investment Corp lifted its position in The Goldman Sachs Group by 153.3% in the 3rd quarter. Hartline Investment Corp now owns 1,421 shares of the investment management company's stock worth $1,132,000 after buying an additional 860 shares in the last quarter. A4 Wealth Advisors LLC purchased a new stake in The Goldman Sachs Group in the 3rd quarter worth approximately $940,000. Stevens Capital Management LP purchased a new stake in The Goldman Sachs Group in the 3rd quarter worth approximately $1,392,000. Meridian Wealth Management LLC lifted its position in The Goldman Sachs Group by 39.4% in the 3rd quarter. Meridian Wealth Management LLC now owns 2,332 shares of the investment management company's stock worth $1,857,000 after buying an additional 659 shares in the last quarter. Finally, AlTi Global Inc. lifted its position in The Goldman Sachs Group by 87.3% in the 3rd quarter. AlTi Global Inc. now owns 29,770 shares of the investment management company's stock worth $23,707,000 after buying an additional 13,879 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $949.89 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $582.50 and a 1 year high of $984.70. The firm's fifty day simple moving average is $878.61 and its 200 day simple moving average is $878.32. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $280.23 billion, a PE 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 posted its 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 Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same period last year, the business posted $14.12 EPS. The Goldman Sachs Group's revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 EPS 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 paid a $4.50 dividend. The ex-dividend date is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.9%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 32.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Bank of America cut 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. Evercore cut their target price 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. BNP Paribas Exane cut their target price on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research report on Friday, April 24th. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $942.24.

Key Stories Impacting The Goldman Sachs Group

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 other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the firm'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 in the company, valued at $2,413,472.04. This trade represents a 30.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 in the company, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

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.

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