Traders Sell Goldman Sachs Group (GS) on Strength Following Insider Selling
Traders sold shares of Goldman Sachs Group Inc (NYSE:GS) on strength during trading on Monday following insider selling activity. $217.02 million flowed into the stock on the tick-up and $310.03 million flowed out of the stock on the tick-down, for a money net flow of $93.01 million out of the stock. Of all companies tracked, Goldman Sachs Group had the 0th highest net out-flow for the day. Goldman Sachs Group traded up $3.86 for the day and closed at $253.16Specifically, Director David A. Viniar sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $238.02, for a total value of $5,950,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider R. Martin Chavez sold 11,829 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $259.22, for a total transaction of $3,066,313.38. The disclosure for this sale can be found here. Insiders have sold 167,843 shares of company stock worth $41,855,427 over the last 90 days. Insiders own 2.57% of the company’s stock.
Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of Goldman Sachs Group from $294.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Wells Fargo & Co reiterated an “outperform” rating and issued a $320.00 price target on shares of Goldman Sachs Group in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a research note on Tuesday, December 19th. Vertical Group upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, Barclays increased their price target on shares of Goldman Sachs Group from $262.00 to $308.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $256.75.
The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $95,490.00, a PE ratio of 29.20, a PEG ratio of 0.90 and a beta of 1.37.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, February 28th. Goldman Sachs Group’s dividend payout ratio is presently 34.60%.
Several hedge funds and other institutional investors have recently modified their holdings of GS. Janus Henderson Group PLC lifted its holdings in shares of Goldman Sachs Group by 4,096.0% during the second quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock worth $549,415,000 after purchasing an additional 2,416,970 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Goldman Sachs Group by 47.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock valued at $799,472,000 after acquiring an additional 1,152,869 shares during the period. Balyasny Asset Management LLC lifted its holdings in Goldman Sachs Group by 1,654.0% in the second quarter. Balyasny Asset Management LLC now owns 1,034,680 shares of the investment management company’s stock valued at $229,595,000 after acquiring an additional 975,690 shares during the period. Jennison Associates LLC lifted its holdings in Goldman Sachs Group by 15.1% in the fourth quarter. Jennison Associates LLC now owns 5,538,407 shares of the investment management company’s stock valued at $1,410,965,000 after acquiring an additional 727,698 shares during the period. Finally, Capital World Investors lifted its holdings in Goldman Sachs Group by 10.5% in the second quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock valued at $1,697,442,000 after acquiring an additional 726,582 shares during the period. 73.28% of the stock is owned by hedge funds and other institutional investors.
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About Goldman Sachs Group
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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