The Goldman Sachs Group, Inc. $GS Shares Bought by RiverFront Investment Group LLC

Key Points

• RiverFront Investment Group boosted its Goldman Sachs stake by 234.1% in the fourth quarter, ending with 2,175 shares worth about $1.91 million.
• Wall Street sentiment remains cautious: analysts currently have a consensus “Hold” rating on GS, with an average price target of $942.24, and several firms recently trimmed their targets.
• Goldman Sachs reported strong quarterly results, beating EPS and revenue estimates, while also announcing a $4.50 quarterly dividend payable June 29, implying an annualized yield of 1.9%.

RiverFront Investment Group LLC grew its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 234.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,175 shares of the investment management company's stock after acquiring an additional 1,524 shares during the period. RiverFront Investment Group LLC's holdings in The Goldman Sachs Group were worth $1,912,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GS. Dagco Inc. acquired a new position in The Goldman Sachs Group during the 4th quarter worth $25,000. Manning & Napier Advisors LLC grew its holdings in The Goldman Sachs Group by 287.5% during the 4th 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 in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in The Goldman Sachs Group during the 4th quarter worth $31,000. Graney & King LLC grew its holdings in The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company's stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Finally, Joseph Group Capital Management acquired a new position in The Goldman Sachs Group during the 4th quarter worth $37,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a "market perform" rating in a research report on Monday, April 20th. BNP Paribas Exane reduced 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 reduced their price target on shares of 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. Finally, Morgan Stanley reduced their price target on shares of The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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

Insider Activity at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,824 shares of company stock worth $25,062,242 in the last ninety days. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Trading Up 0.1%

The Goldman Sachs Group stock opened at $949.89 on Monday. The company has a market cap of $280.23 billion, a P/E ratio of 17.36, a PEG ratio of 1.22 and a beta of 1.28. The firm's 50-day moving average is $878.61 and its 200-day 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 quick ratio of 0.63 and a current ratio of 0.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data 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 firm 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 quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $14.12 EPS. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 1st. This represents a $18.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 32.89%.

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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