Investors Sell Shares of Goldman Sachs Group Inc. (GS) on Strength Following Insider Selling
Traders sold shares of Goldman Sachs Group Inc. (NYSE:GS) on strength during trading hours on Tuesday after an insider sold shares in the company. $133.44 million flowed into the stock on the tick-up and $205.46 million flowed out of the stock on the tick-down, for a money net flow of $72.02 million out of the stock. Of all equities tracked, Goldman Sachs Group had the 0th highest net out-flow for the day. Goldman Sachs Group traded up $0.03 for the day and closed at $211.11Specifically, Chairman Lloyd C. Blankfein sold 2,483 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $206.23, for a total transaction of $512,069.09. Following the completion of the transaction, the chairman now directly owns 1,524,471 shares of the company’s stock, valued at $314,391,654.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Lloyd C. Blankfein sold 2,504 shares of the stock in a transaction on Friday, November 18th. The shares were sold at an average price of $211.32, for a total value of $529,145.28. Following the transaction, the chairman now directly owns 1,524,471 shares of the company’s stock, valued at $322,151,211.72. The disclosure for this sale can be found here. Company insiders own 2.61% of the company’s stock.
GS has been the subject of several research reports. Citigroup Inc. increased their price objective on Goldman Sachs Group from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, October 10th. Zacks Investment Research lowered Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Monday, September 26th. JMP Securities reaffirmed a “market perform” rating on shares of Goldman Sachs Group in a report on Sunday, November 13th. Vetr raised Goldman Sachs Group from a “sell” rating to a “strong-buy” rating and set a $179.28 price target for the company in a report on Thursday, September 29th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $214.00 price target (up from $200.00) on shares of Goldman Sachs Group in a report on Friday, October 21st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $181.38.
The firm’s 50 day moving average is $182.65 and its 200-day moving average is $165.16. The stock has a market cap of $88.41 billion, a price-to-earnings ratio of 16.94 and a beta of 1.55.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 18th. The investment management company reported $4.88 EPS for the quarter, beating the consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The business earned $8.17 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the firm earned $4.51 EPS. The business’s revenue was up 19.0% on a year-over-year basis. Equities analysts anticipate that Goldman Sachs Group Inc. will post $15.52 earnings per share for the current year.
The business 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 dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Tuesday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 20.72%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eachwin Capital LP acquired a new stake in shares of Goldman Sachs Group during the first quarter valued at about $415,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Goldman Sachs Group by 16.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,845 shares of the investment management company’s stock valued at $2,021,000 after buying an additional 1,801 shares in the last quarter. Phocas Financial Corp. boosted its stake in shares of Goldman Sachs Group by 38.8% in the first quarter. Phocas Financial Corp. now owns 35,844 shares of the investment management company’s stock valued at $5,627,000 after buying an additional 10,013 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Goldman Sachs Group by 5.5% in the first quarter. First Republic Investment Management Inc. now owns 177,858 shares of the investment management company’s stock valued at $27,921,000 after buying an additional 9,211 shares in the last quarter. Finally, Cullinan Associates Inc. boosted its stake in shares of Goldman Sachs Group by 38.5% in the first quarter. Cullinan Associates Inc. now owns 7,200 shares of the investment management company’s stock valued at $1,130,000 after buying an additional 2,000 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.
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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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