Teachers Retirement System of The State of Kentucky Decreases Stake in The Goldman Sachs Group, Inc. $GS

Teachers Retirement System of The State of Kentucky cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 28.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GS. LGT Fund Management Co Ltd. purchased a new position in The Goldman Sachs Group during the first quarter worth approximately $1,073,000. Global Assets Advisory LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $607,000. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $2,024,921,000. Anchor Investment Management LLC increased its stake in shares of The Goldman Sachs Group by 1.2% in the 1st quarter. Anchor Investment Management LLC now owns 4,598 shares of the investment management company’s stock worth $3,890,000 after acquiring an additional 56 shares during the last quarter. Finally, Castleview Partners LLC increased its stake in shares of The Goldman Sachs Group by 3.4% in the 1st quarter. Castleview Partners LLC now owns 574 shares of the investment management company’s stock worth $486,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.1%

NYSE GS opened at $1,056.04 on Monday. The firm’s 50-day moving average is $1,017.99 and its two-hundred day moving average is $938.92. The Goldman Sachs Group, Inc. has a 12 month low of $691.30 and a 12 month high of $1,125.00. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $311.54 billion, a P/E ratio of 19.30, a PEG ratio of 1.35 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the business earned $14.12 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 earnings per share for the current year.

Wall Street Analyst Weigh In

GS has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Daiwa Securities Group boosted their target price on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Finally, UBS Group raised their price target on shares of The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $986.91.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is owned by insiders.

Key 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 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.