Blume Capital Management Inc. Has $8.19 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

Blume Capital Management Inc. reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,321 shares of the investment management company’s stock after selling 1,435 shares during the period. The Goldman Sachs Group comprises approximately 1.5% of Blume Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. Blume Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $8,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acropolis Investment Management LLC grew its holdings in shares of The Goldman Sachs Group by 1.8% during the 4th quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock valued at $554,000 after purchasing an additional 11 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 2.0% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock valued at $505,000 after purchasing an additional 11 shares during the last quarter. Optas LLC grew its holdings in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock valued at $2,244,000 after purchasing an additional 11 shares during the last quarter. Pines Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after purchasing an additional 11 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 0.5% during the 4th quarter. Terra Nova Asset Management LLC now owns 2,650 shares of the investment management company’s stock valued at $2,329,000 after acquiring an additional 12 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Activity at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. The trade was a 47.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alex S. Golten sold 1,116 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the completion of the sale, the insider directly owned 2,578 shares of the company’s stock, valued at $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,824 shares of company stock valued at $25,062,242 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Rothschild & Co Redburn raised their price objective on The Goldman Sachs Group from $839.00 to $870.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Bank of America reduced their price target on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets boosted their price target on The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a “market perform” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus target price of $942.24.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs lowered its 12-month U.S. recession probability to 25% from 30%, citing a resilient labor market and solid economic activity. That suggests a healthier macro backdrop for banks and markets overall. Goldman Slashes Recession Risk Odds as Labor Market Remains Resilient
• Neutral Sentiment: Goldman Sachs analysts remained active across several names, including Buy ratings on Telefonica, MercadoLibre, Insulet, Marathon Petroleum, UnitedHealth and ORIC Pharma, showing the firm continues to influence market sentiment but without direct impact on GS itself.
• Neutral Sentiment: There were also multiple media references to Goldman strategists warning that the recent market rally and volatility setup could imply more upside, but those commentary pieces were market-wide in nature and not specific to Goldman Sachs stock.
• Negative Sentiment: Financial stocks were weaker in afternoon trading, with the NYSE Financial Index down about 0.5%, which likely pressured Goldman Sachs shares along with the broader sector. Sector Update: Financial Stocks Lower in Afternoon Trading

The Goldman Sachs Group Stock Up 0.1%

Shares of NYSE:GS opened at $949.89 on Monday. The business has a fifty day simple moving average of $878.61 and a 200 day simple moving average of $878.95. The Goldman Sachs Group, Inc. has a 12-month low of $582.50 and a 12-month high of $984.70. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The firm has a market cap of $280.23 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.22 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same period last year, the company posted $14.12 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts predict that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s payout ratio is presently 32.89%.

The Goldman Sachs Group Profile

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.