Tredje AP fonden Lowers Stake in Goldman Sachs (GS)

Tredje AP fonden cut its holdings in shares of Goldman Sachs (NYSE:GS) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,732 shares of the investment management company’s stock after selling 560 shares during the period. Tredje AP fonden’s holdings in Goldman Sachs were worth $10,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TIAA CREF Investment Management LLC grew its position in Goldman Sachs by 116.3% in the 4th quarter. TIAA CREF Investment Management LLC now owns 2,529,469 shares of the investment management company’s stock valued at $644,408,000 after buying an additional 1,360,046 shares during the last quarter. Jennison Associates LLC grew its position in Goldman Sachs by 15.1% in the 4th quarter. Jennison Associates LLC now owns 5,538,407 shares of the investment management company’s stock valued at $1,410,965,000 after buying an additional 727,698 shares during the last quarter. Standard Life Aberdeen plc grew its position in Goldman Sachs by 187.6% in the 4th quarter. Standard Life Aberdeen plc now owns 737,276 shares of the investment management company’s stock valued at $187,995,000 after buying an additional 480,931 shares during the last quarter. Mackenzie Financial Corp grew its position in Goldman Sachs by 102.5% in the 4th quarter. Mackenzie Financial Corp now owns 643,773 shares of the investment management company’s stock valued at $164,008,000 after buying an additional 325,782 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in Goldman Sachs by 348.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 411,036 shares of the investment management company’s stock valued at $104,714,000 after buying an additional 319,286 shares during the last quarter. Institutional investors and hedge funds own 73.48% of the company’s stock.

In other Goldman Sachs news, insider Brian J. Lee sold 6,738 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $263.92, for a total value of $1,778,292.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David M. Solomon sold 3,497 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $244.40, for a total value of $854,666.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,635 shares of company stock worth $3,800,588 over the last three months. 2.57% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on GS shares. Zacks Investment Research upgraded shares of Goldman Sachs from a “hold” rating to a “buy” rating and set a $294.00 price objective on the stock in a research report on Tuesday, March 20th. Wells Fargo set a $330.00 price objective on shares of Goldman Sachs and gave the company a “buy” rating in a research report on Sunday, April 8th. JPMorgan Chase reiterated a “buy” rating and issued a $280.00 price objective on shares of Goldman Sachs in a research report on Thursday, March 15th. Bank of America reiterated a “buy” rating and issued a $300.00 price objective (up from $249.30) on shares of Goldman Sachs in a research report on Monday, February 12th. Finally, Vetr raised Goldman Sachs from a “sell” rating to a “hold” rating and set a $246.36 target price for the company in a report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Goldman Sachs presently has an average rating of “Hold” and a consensus target price of $266.78.

Goldman Sachs stock opened at $237.00 on Friday. The company has a market cap of $90.31 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.82 and a beta of 1.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.12. Goldman Sachs has a one year low of $209.62 and a one year high of $275.31.

Goldman Sachs (NYSE:GS) last released its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 EPS for the quarter, topping the consensus estimate of $5.58 by $1.37. The firm had revenue of $10.04 billion for the quarter, compared to analyst estimates of $8.73 billion. Goldman Sachs had a return on equity of 12.58% and a net margin of 14.27%. Goldman Sachs’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.15 EPS. sell-side analysts expect that Goldman Sachs will post 23.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Thursday, May 31st will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, May 30th. This is a positive change from Goldman Sachs’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.35%. Goldman Sachs’s payout ratio is 15.18%.

Goldman Sachs Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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Institutional Ownership by Quarter for Goldman Sachs (NYSE:GS)

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