Teachers Retirement System of The State of Kentucky Cuts Stock Position in The Goldman Sachs Group, Inc. $GS

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 28.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,481 shares of the investment management company’s stock after selling 14,805 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in The Goldman Sachs Group were worth $31,709,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dagco Inc. purchased a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $26,000. Manning & Napier Advisors LLC boosted its position in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after buying an additional 23 shares during the period. Steph & Co. acquired a new position in shares of The Goldman Sachs Group in the first quarter worth $27,000. Finally, Lifetime Wealth Management P.C. acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer directly owned 31,070 shares of the company’s stock, valued at $30,248,198.50. The trade was a 18.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction 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 sale, the insider owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,681 shares of company stock worth $31,737,875 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

GS has been the topic of several analyst reports. HSBC increased their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Jefferies Financial Group cut their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating on the stock in a report on Monday, April 6th. BNP Paribas Exane reduced their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Finally, Dbs Bank lifted their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $986.91.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

The Goldman Sachs Group Trading Up 0.1%

Shares of The Goldman Sachs Group stock opened at $1,056.04 on Monday. 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, Inc. has a 12-month low of $691.30 and a 12-month high of $1,125.00. The stock has a market cap of $311.54 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.35 and a beta of 1.30. The company has a fifty day simple moving average of $1,017.99 and a 200-day simple moving average of $938.92.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $14.12 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current fiscal year.

The Goldman Sachs Group Company 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.