Investors Sell Shares of Goldman Sachs Group Inc. (GS) on Strength After Insider Selling
Investors sold shares of Goldman Sachs Group Inc. (NYSE:GS) on strength during trading on Wednesday after an insider sold shares in the company. $194.18 million flowed into the stock on the tick-up and $235.47 million flowed out of the stock on the tick-down, for a money net flow of $41.29 million out of the stock. Of all stocks tracked, Goldman Sachs Group had the 9th highest net out-flow for the day. Goldman Sachs Group traded up $1.20 for the day and closed at $212.31Specifically, insider Sarah G. Smith sold 218 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $211.47, for a total value of $46,100.46. Following the completion of the transaction, the insider now directly owns 22,103 shares in the company, valued at approximately $4,674,121.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $166.11, for a total value of $2,325,540.00. Following the completion of the transaction, the executive vice president now owns 33,634 shares of the company’s stock, valued at $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is owned by insiders.
GS has been the subject of a number of recent analyst reports. Macquarie upgraded Goldman Sachs Group from a “neutral” rating to an “outperform” rating in a report on Friday, November 18th. JMP Securities reiterated a “market perform” rating on shares of Goldman Sachs Group in a report on Sunday, November 13th. Rafferty Capital Markets increased their price target on Goldman Sachs Group from $191.00 to $227.00 and gave the stock a “buy” rating in a report on Thursday, November 10th. Citigroup Inc. downgraded Goldman Sachs Group from a “buy” rating to a “neutral” rating and increased their price target for the stock from $138.20 to $181.48 in a report on Tuesday, November 8th. Finally, Vetr downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $170.52 price target for the company. in a report on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $181.38.
The firm’s 50-day moving average price is $182.65 and its 200-day moving average price is $165.16. The firm has a market capitalization of $88.92 billion, a price-to-earnings ratio of 17.04 and a beta of 1.55.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 18th. The investment management company reported $4.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.79 by $1.09. The business had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.51 earnings per share. Equities research analysts predict that Goldman Sachs Group Inc. will post $15.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 1st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 20.72%.
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Goldman Sachs Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 22,472,479 shares of the investment management company’s stock worth $3,338,962,000 after buying an additional 93,526 shares during the period. Dodge & Cox boosted its stake in shares of Goldman Sachs Group by 11.4% in the second quarter. Dodge & Cox now owns 15,020,855 shares of the investment management company’s stock worth $2,231,799,000 after buying an additional 1,531,815 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Goldman Sachs Group by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,644,354 shares of the investment management company’s stock worth $1,878,700,000 after buying an additional 194,684 shares during the period. Capital World Investors boosted its stake in shares of Goldman Sachs Group by 0.3% in the second quarter. Capital World Investors now owns 11,404,284 shares of the investment management company’s stock worth $1,694,449,000 after buying an additional 38,554 shares during the period. Finally, Harris Associates L P boosted its stake in shares of Goldman Sachs Group by 6.3% in the second quarter. Harris Associates L P now owns 5,743,708 shares of the investment management company’s stock worth $853,400,000 after buying an additional 338,324 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.
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About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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