Traders Buy Goldman Sachs Group (GS) on Weakness After Insider Selling

Investors purchased shares of Goldman Sachs Group Inc (NYSE:GS) on weakness during trading on Tuesday after an insider sold shares in the company. $277.28 million flowed into the stock on the tick-up and $220.19 million flowed out of the stock on the tick-down, for a money net flow of $57.09 million into the stock. Of all stocks tracked, Goldman Sachs Group had the 7th highest net in-flow for the day. Goldman Sachs Group traded down ($1.43) for the day and closed at $260.09Specifically, Director David A. Viniar sold 17,500 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $251.19, for a total value of $4,395,825.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $238.38, for a total transaction of $4,956,873.72. The disclosure for this sale can be found here. Insiders sold a total of 115,333 shares of company stock worth $27,705,377 in the last quarter. 2.57% of the stock is currently owned by company insiders.

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $260.00 target price on shares of Goldman Sachs Group in a research note on Thursday, January 18th. Barclays restated an “equal weight” rating and issued a $289.00 target price (down previously from $308.00) on shares of Goldman Sachs Group in a research note on Thursday, January 18th. Oppenheimer upped their target price on shares of Goldman Sachs Group from $301.00 to $313.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Royal Bank of Canada upped their target price on shares of Goldman Sachs Group to $265.00 and gave the company a “sector perform” rating in a research note on Thursday, January 18th. Finally, BMO Capital Markets cut their target price on shares of Goldman Sachs Group to $221.00 and set a “market perform” rating on the stock in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $254.67.

The company has a market cap of $98,110.00, a P/E ratio of 30.00, a P/E/G ratio of 0.93 and a beta of 1.47. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.82.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 17th. The investment management company reported $5.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.90 by $0.78. Goldman Sachs Group had a net margin of 13.36% and a return on equity of 11.47%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the prior year, the firm earned $5.08 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. equities analysts predict that Goldman Sachs Group Inc will post 21.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.15%. Goldman Sachs Group’s dividend payout ratio (DPR) is 34.60%.

A number of large investors have recently bought and sold shares of GS. Janus Henderson Group PLC grew its stake in Goldman Sachs Group by 4,096.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock valued at $549,415,000 after buying an additional 2,416,970 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Goldman Sachs Group by 47.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock worth $799,472,000 after acquiring an additional 1,152,869 shares during the period. Balyasny Asset Management LLC lifted its holdings in shares of Goldman Sachs Group by 1,654.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,034,680 shares of the investment management company’s stock worth $229,595,000 after acquiring an additional 975,690 shares during the period. Capital World Investors lifted its holdings in shares of Goldman Sachs Group by 10.5% during the 2nd quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock worth $1,697,442,000 after acquiring an additional 726,582 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Goldman Sachs Group by 21.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,121,193 shares of the investment management company’s stock valued at $470,546,000 after purchasing an additional 377,435 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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