Kathryn Ruemmler Sells 14,292 Shares of The Goldman Sachs Group (NYSE:GS) Stock

Key Points

• Insider sale: Kathryn Ruemmler sold 14,292 Goldman Sachs shares on May 6 at an average price of $939.07, totaling about $13.4 million. After the transaction, she still held 15,657 shares, a 47.72% reduction in her position.
• Strong quarterly results: Goldman Sachs reported first-quarter EPS of $17.55, beating estimates of $15.92, on revenue of $17.23 billion, also above expectations. Revenue rose 14.4% year over year, and the firm posted a 16.53% return on equity.
• Analyst and dividend backdrop: The stock was trading near $936.72, close to its 52-week high of $984.70, while analysts remained mixed with an average rating of Hold and an average target of $942.24. Goldman also announced a quarterly dividend of $4.50 per share, payable June 29.

The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report) insider Kathryn Ruemmler sold 14,292 shares of the company's stock in a transaction that occurred on 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 transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. The trade was a 47.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

The Goldman Sachs Group Trading Up 1.2%

GS stock traded up $10.85 during midday trading on Friday, hitting $936.72. The stock had a trading volume of 1,654,055 shares, compared to its average volume of 2,312,640. The firm has a market cap of $276.34 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.28. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.66. The Goldman Sachs Group, Inc. has a 12-month low of $565.78 and a 12-month high of $984.70. The company's 50-day moving average price is $870.56 and its 200 day moving average price is $871.13.

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, topping 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 firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. During the same period in the prior year, the business posted $14.12 earnings per share. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be paid a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group's payout ratio is currently 32.89%.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: DBS Bank raised its price target on Goldman Sachs to $1,050 from $890, signaling confidence in further upside for the shares. DBS Bank adjusts price target on Goldman Sachs to 1,050 from 890
• Positive Sentiment: UBS also nudged its price target higher on Goldman Sachs, lifting it to $940 from $930, reflecting a constructive near-term outlook. UBS adjusts Goldman Sachs price target to 940 from 930
• Positive Sentiment: Anthropic announced a partnership with Blackstone, Hellman & Friedman, and Goldman Sachs to launch an AI services firm, highlighting GS’s involvement in a potentially high-growth AI initiative. 10 Best American AI Stocks to Buy Now
• Positive Sentiment: Goldman Sachs’ tech leadership said the firm is focused on speeding up engineers from idea to production, reinforcing its push to use AI to improve productivity and efficiency. Goldman Sachs tech boss says tracking individual AI usage isn’t useful
• Neutral Sentiment: Goldman Sachs’ analysts issued a number of calls on other companies, including a bullish Nvidia outlook and a Hold rating on MarketAxess; these reinforce the firm’s active research franchise but have only an indirect impact on GS shares. Goldman Sachs maintains Hold on MarketAxess Goldman Sachs on Nvidia
• Negative Sentiment: News flow around Goldman Sachs BDC’s weaker NAV and rising bad loans in its private credit fund may raise investor concerns about credit quality, though this is more relevant to GS’s asset-management exposure than its core banking business. Goldman Sachs Private Credit Fund’s Share of Bad Loans Rises

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in the company. Dagco Inc. acquired a new position in The Goldman Sachs Group in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $26,000. Manning & Napier Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 287.5% in the fourth 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. Steph & Co. purchased a new position in The Goldman Sachs Group in the first quarter valued at about $27,000. Finally, Corundum Trust Company INC purchased a new position in The Goldman Sachs Group in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating on the stock in a report on Monday, April 13th. Dbs Bank lifted their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday. Bank of America dropped 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. Autonomous Res cut their price target on shares of The Goldman Sachs Group from $1,047.00 to $960.00 and set an "outperform" rating on the stock in a report on Thursday, January 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $971.00 to $1,000.00 and gave the stock a "market perform" rating in a research note on Friday, January 16th. Nine research analysts have rated the stock with a Buy rating and thirteen 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 an average price target of $942.24.

The Goldman Sachs Group Company 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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