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The Goldman Sachs Group, Inc. $GS Shares Acquired by Mirae Asset Global Investments Co. Ltd.

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Key Points

  • Mirae Asset Global Investments increased its stake in The Goldman Sachs Group by 6.8% in Q4 to 70,912 shares (worth about $62.33M), and institutional investors now own 71.21% of the company.
  • CFO Denis P. Coleman sold 11,623 shares (~$10.94M) and Treasurer Carey Halio sold 2,846 shares, with insiders offloading 49,097 shares (~$46.2M) over the past 90 days and now owning 0.55% of GS.
  • Goldman beat Q1 estimates (EPS $17.55 vs. $15.92 est.; revenue $17.23B vs. $16.66B) but the stock sold off amid FICC trading weakness and analyst target cuts; the firm also declared a quarterly dividend of $4.50 (annualized $18.00, ~2.0% yield).
  • Interested in The Goldman Sachs Group? Here are five stocks we like better.

Mirae Asset Global Investments Co. Ltd. grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,912 shares of the investment management company's stock after purchasing an additional 4,512 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in The Goldman Sachs Group were worth $62,332,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in 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 in the last quarter. Revolve Wealth Partners LLC grew 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 acquiring an additional 58 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of The Goldman Sachs Group by 90.1% during the second quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company's stock worth $1,098,000 after acquiring an additional 735 shares during the period. Schnieders Capital Management LLC. raised 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 valued at $581,000 after acquiring an additional 70 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised 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 valued at $1,522,000 after acquiring an additional 391 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Activity

In related news, CFO Denis P. Coleman sold 11,623 shares of the company's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $941.57, for a total value of $10,943,868.11. Following the completion of the transaction, the chief financial officer directly owned 29,342 shares of the company's stock, valued at $27,627,546.94. This represents a 28.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Treasurer Carey Halio sold 2,846 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $927.17, for a total transaction of $2,638,725.82. Following the completion of the transaction, the treasurer owned 2,017 shares in the company, valued at $1,870,101.89. This represents a 58.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,097 shares of company stock valued at $46,195,364 over the last 90 days. Insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

GS has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating for the company in a research note on Monday. Evercore reduced their price target on The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating on the stock in a research report on Monday, April 6th. Royal Bank Of Canada reiterated a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday. Weiss Ratings reissued a "hold (c+)" rating on shares of The Goldman Sachs Group in a research report on Friday, April 10th. Finally, 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 on the stock in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $919.48.

Check Out Our Latest Report on GS

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $899.50 on Friday. The company has a market cap of $265.34 billion, a P/E ratio of 16.44, a PEG ratio of 1.17 and a beta of 1.32. The firm has a fifty day moving average price of $868.70 and a 200 day moving average price of $856.53. The company has a current ratio of 1.10, a quick ratio of 0.66 and a debt-to-equity ratio of 2.56. The Goldman Sachs Group, Inc. has a 12 month low of $494.68 and a 12 month high of $984.70.

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, topping analysts' consensus estimates of $15.92 by $1.63. The company had revenue of $17.23 billion during the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.02% and a net margin of 14.13%.The Goldman Sachs Group's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $14.12 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm 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 dividend of $4.50 per share. The ex-dividend date is Monday, June 1st. This represents a $18.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group's payout ratio is presently 35.09%.

The Goldman Sachs Group News Summary

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

The Goldman Sachs Group Profile

(Free Report)

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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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).

Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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.

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