The Goldman Sachs Group, Inc. $GS Stake Lessened by Triglav Investments D.O.O.

Triglav Investments D.O.O. lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 43,723 shares of the investment management company’s stock after selling 3,817 shares during the period. The Goldman Sachs Group accounts for approximately 2.6% of Triglav Investments D.O.O.’s holdings, making the stock its 11th biggest holding. Triglav Investments D.O.O.’s holdings in The Goldman Sachs Group were worth $36,986,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GS. Vanguard Group Inc. increased its holdings in shares of The Goldman Sachs Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock valued at $25,503,685,000 after acquiring an additional 418,820 shares during the last quarter. State Street Corp lifted its stake in The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after purchasing an additional 394,198 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after purchasing an additional 110,134 shares during the period. Geode Capital Management LLC boosted its holdings in The Goldman Sachs Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock worth $5,896,795,000 after purchasing an additional 45,266 shares during the period. Finally, Bank of America Corp DE increased its stake in The Goldman Sachs Group by 3.4% during the fourth quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock valued at $5,254,692,000 after purchasing an additional 194,109 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on GS shares. Bank of America increased their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Finally, HSBC lifted their target price on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $986.91.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,056.04 on Monday. The Goldman Sachs Group, Inc. has a 12-month low of $691.30 and a 12-month high of $1,125.00. The firm has a market capitalization of $311.54 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. The business has a 50 day simple moving average of $1,017.99 and a 200 day simple moving average of $938.92. 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) last announced 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 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 return on equity of 16.53% and a net margin of 14.13%.The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $14.12 EPS. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current year.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

Insiders Place Their Bets

In other news, insider Alex S. Golten sold 1,116 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. This trade represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s 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 transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is owned by company insiders.

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.