The Goldman Sachs Group (NYSE:GS) Sets New 52-Week Low on Insider Selling

The Goldman Sachs Group, Inc. (NYSE:GSGet Rating) hit a new 52-week low during mid-day trading on Friday following insider selling activity. The stock traded as low as $278.14 and last traded at $279.23, with a volume of 45044 shares. The stock had previously closed at $284.98.

Specifically, Director Goldman Sachs Group Inc sold 90,427 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $19.16, for a total transaction of $1,732,581.32. Following the completion of the transaction, the director now directly owns 3,130,987 shares in the company, valued at approximately $59,989,710.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David M. Solomon sold 9,768 shares of the company’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $334.57, for a total value of $3,268,079.76. Following the transaction, the chief executive officer now owns 96,467 shares of the company’s stock, valued at $32,274,964.19. The disclosure for this sale can be found here. Insiders sold a total of 1,330,390 shares of company stock worth $28,952,332 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Several equities research analysts have recently commented on the company. StockNews.com assumed coverage on The Goldman Sachs Group in a report on Thursday, March 31st. They set a “hold” rating for the company. Bank of America upped their target price on The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, April 18th. Morgan Stanley reduced their target price on The Goldman Sachs Group from $445.00 to $418.00 and set an “equal weight” rating for the company in a report on Monday, March 28th. BMO Capital Markets reduced their target price on The Goldman Sachs Group from $488.00 to $486.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Finally, JPMorgan Chase & Co. set a $416.00 price target on The Goldman Sachs Group in a research report on Friday, April 1st. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $440.73.

The stock has a 50-day simple moving average of $314.04 and a 200 day simple moving average of $344.19. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $96.59 billion, a P/E ratio of 5.53, a P/E/G ratio of 0.60 and a beta of 1.40.

The Goldman Sachs Group (NYSE:GSGet Rating) last issued its earnings results on Thursday, April 14th. The investment management company reported $10.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.61 by $2.15. The Goldman Sachs Group had a return on equity of 19.08% and a net margin of 31.21%. The business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $11.76 billion. During the same period in the prior year, the firm posted $18.60 EPS. The Goldman Sachs Group’s quarterly revenue was down 26.9% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.7 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Wednesday, June 1st will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, May 31st. This represents a $8.00 dividend on an annualized basis and a yield of 2.84%. The Goldman Sachs Group’s dividend payout ratio is 15.53%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of The Goldman Sachs Group by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 30,583,504 shares of the investment management company’s stock valued at $10,095,615,000 after buying an additional 4,451,999 shares during the period. Norges Bank acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $808,203,000. State Street Corp increased its stake in shares of The Goldman Sachs Group by 2.9% in the 4th quarter. State Street Corp now owns 21,484,443 shares of the investment management company’s stock valued at $8,218,874,000 after buying an additional 600,643 shares during the period. BlackRock Inc. increased its stake in shares of The Goldman Sachs Group by 2.5% in the 4th quarter. BlackRock Inc. now owns 23,795,472 shares of the investment management company’s stock valued at $9,102,958,000 after buying an additional 570,001 shares during the period. Finally, Balyasny Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 313.6% in the 3rd quarter. Balyasny Asset Management LLC now owns 675,003 shares of the investment management company’s stock valued at $255,171,000 after buying an additional 511,802 shares during the period. 71.42% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Company Profile (NYSE:GS)

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

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