Peloton Wealth Strategists Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Peloton Wealth Strategists cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 15.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,585 shares of the investment management company’s stock after selling 1,040 shares during the quarter. The Goldman Sachs Group comprises about 1.9% of Peloton Wealth Strategists’ portfolio, making the stock its 16th largest holding. Peloton Wealth Strategists’ holdings in The Goldman Sachs Group were worth $4,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GS. Dagco Inc. acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $25,000. Manning & Napier Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after buying an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $31,000. Cornerstone Financial Management LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $33,000. Finally, Entrust Financial LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $34,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 1.3%

NYSE GS opened at $1,090.03 on Wednesday. The stock has a market capitalization of $321.57 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.40 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52-week low of $623.00 and a 52-week high of $1,098.36. The firm has a 50-day moving average price of $966.09 and a 200 day moving average price of $914.56. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $14.12 earnings per share. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 59.08 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is currently 32.89%.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs surpassed $1 trillion in year-to-date M&A advisory volume, signaling record-breaking deal activity and a stronger revenue outlook from investment banking. Goldman Sachs shatters dealmaking records with $1 trillion in first-half M&A volume
• Positive Sentiment: Goldman Sachs was tapped to lead SpaceX’s IPO, which could boost underwriting fees and serves as a high-profile sign that new listings may be returning. Goldman Sachs (GS) Lands SpaceX IPO Lead As New Listings Come Back Into Focus
• Positive Sentiment: Goldman Sachs’ record M&A pace and continued involvement in major financings are reinforcing investor expectations for stronger fee generation across its advisory and capital-markets businesses. Goldman Tops $1 Trillion of M&A, Fastest Ever to Reach the Mark
• Neutral Sentiment: Several articles referenced Goldman’s research and market commentary on oil, Chinese stocks, and AI themes, but these are more about the firm’s views than a direct business catalyst for GS shares. The peace deal is in the price: Goldman Sachs lowers its oil-price target to market levels

Insider Activity

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the 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 transaction, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alex S. Golten sold 1,116 shares of the stock in a transaction dated 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 $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 33,681 shares of company stock valued at $31,737,875. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GS shares. Evercore decreased 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 note on Monday, April 6th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Royal Bank Of Canada reiterated a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. JPMorgan Chase & Co. increased their target price on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. Finally, Daiwa Securities Group increased their target price on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Nine investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $941.82.

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.