Canada Post Corp Registered Pension Plan Boosts Stock Holdings in The Goldman Sachs Group, Inc. $GS
by Scott Moore · The Cerbat GemCanada Post Corp Registered Pension Plan lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,059 shares of the investment management company’s stock after buying an additional 690 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in The Goldman Sachs Group were worth $7,084,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Dagco Inc. purchased a new stake in The Goldman Sachs Group in the fourth quarter worth approximately $25,000. Manning & Napier Advisors LLC boosted its holdings in 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 purchasing an additional 23 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth approximately $31,000. Graney & King LLC boosted its holdings in The Goldman Sachs Group by 51.5% in the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Finally, Joseph Group Capital Management purchased a new stake in The Goldman Sachs Group in the fourth quarter worth approximately $37,000. 71.21% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Citigroup raised their target price on The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. BNP Paribas Exane dropped their target price on 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. JPMorgan Chase & Co. reissued a “neutral” rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Finally, Rothschild & Co Redburn raised their target price on The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $942.24.
Insiders Place Their Bets
In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the sale, the insider 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 Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the sale, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,824 shares of company stock worth $25,062,242 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.
Trending Headlines about 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
The Goldman Sachs Group Stock Down 2.0%
GS opened at $949.89 on Friday. 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, Inc. has a fifty-two week low of $582.50 and a fifty-two week high of $984.70. The firm’s fifty day moving average is $878.61 and its 200 day moving average is $878.32. The stock has a market cap of $280.23 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.28.
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, beating analysts’ consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company had revenue of $17.23 billion for the quarter, compared to analysts’ expectations of $16.66 billion. During the same quarter in the previous year, the company earned $14.12 EPS. The Goldman Sachs Group’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.
The Goldman Sachs Group Dividend Announcement
The firm 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 $4.50 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.9%. The Goldman Sachs Group’s payout ratio 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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