Sumitomo Life Insurance Co. Cuts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Sumitomo Life Insurance Co. trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,175 shares of the investment management company’s stock after selling 210 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in The Goldman Sachs Group were worth $1,611,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GS. Morgan Stanley grew its position in The Goldman Sachs Group by 40.0% during the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after buying an additional 1,696,350 shares during the period. Bank of New York Mellon Corp boosted its position in shares of The Goldman Sachs Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 4,764,509 shares of the investment management company’s stock worth $1,396,236,000 after purchasing an additional 52,016 shares during the period. Northern Trust Corp boosted its position in shares of The Goldman Sachs Group by 3.2% in the third quarter. Northern Trust Corp now owns 3,339,851 shares of the investment management company’s stock worth $1,080,676,000 after purchasing an additional 104,424 shares during the period. Invesco Ltd. boosted its position in shares of The Goldman Sachs Group by 6.1% in the third quarter. Invesco Ltd. now owns 2,792,239 shares of the investment management company’s stock worth $903,485,000 after purchasing an additional 159,512 shares during the period. Finally, Norges Bank bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $759,531,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the transaction, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,907 shares of company stock worth $15,080,021. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $390.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, March 27th. Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Finally, Barclays boosted their target price on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $423.05.

The Goldman Sachs Group Trading Down 2.0 %

Shares of GS opened at $389.49 on Monday. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $419.20. The company has a market cap of $126.40 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.51 and a beta of 1.43. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.29. The company’s fifty day simple moving average is $394.74 and its 200-day simple moving average is $364.03.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, April 16th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.57 by $3.01. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the prior year, the firm posted $8.79 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 32.76 EPS for the current year.

The Goldman Sachs Group Profile

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 Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.