Baxter Bros Inc. Has $12.13 Million Position in The Goldman Sachs Group, Inc. $GS

Baxter Bros Inc. cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.6% in the first quarter, HoldingsChannel.com reports. The fund owned 14,337 shares of the investment management company’s stock after selling 535 shares during the period. The Goldman Sachs Group makes up 1.5% of Baxter Bros Inc.’s investment portfolio, making the stock its 22nd largest position. Baxter Bros Inc.’s holdings in The Goldman Sachs Group were worth $12,129,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $2,515,830,000. Corient Private Wealth LLC raised its holdings in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after purchasing an additional 2,448,767 shares during the period. Wellington Management Group LLP raised its holdings in The Goldman Sachs Group by 110.8% in the third quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company’s stock worth $1,417,997,000 after purchasing an additional 936,015 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of The Goldman Sachs Group by 428.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after purchasing an additional 450,984 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in shares of The Goldman Sachs Group by 84,499.0% in the 1st quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company’s stock valued at $35,785,000 after buying an additional 422,495 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs strengthened its technology leadership by hiring Google executive Evan Kotsovinos as a partner and head of division engineering, and also bringing in another Google engineer to lead asset & wealth management engineering. These hires suggest continued investment in digital capabilities and operational efficiency. Article Title
• Positive Sentiment: Goldman Sachs’ M&A advisory business in EMEA has gained significant market share as regional dealmaking reaches a 19-year high, pointing to stronger investment banking fees if the deal rebound continues. Article Title
• Positive Sentiment: Market commentary tied to Goldman Sachs has been broadly constructive, including the firm’s positive view on stocks such as Nvidia, South Korea equities, and select undervalued names, reinforcing Goldman’s image as a strong market strategist and analyst franchise. Article Title

The Goldman Sachs Group Price Performance

GS stock opened at $1,054.81 on Tuesday. The stock has a 50-day moving average price of $1,005.83 and a two-hundred day moving average price of $933.17. The Goldman Sachs Group, Inc. has a 1 year low of $691.30 and a 1 year high of $1,125.00. The stock has a market cap of $311.18 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.32 and a beta of 1.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The company had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $14.12 earnings per share. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 60.18 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were paid a $4.50 dividend. The ex-dividend date was Monday, June 1st. This represents a $18.00 annualized dividend and a yield of 1.7%. The Goldman Sachs Group’s payout ratio is presently 32.89%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 33,681 shares of company stock worth $31,737,875. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup upped their price objective on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. Dbs Bank boosted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Morgan Stanley lifted their price objective on The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, Jefferies Financial Group decreased their price objective on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $974.18.

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.