Norges Bank Expands Holdings in The Goldman Sachs Group, Inc.

Norges Bank has recently taken a significant step by acquiring a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the fourth quarter. According to their latest disclosure with the Securities and Exchange Commission (SEC), the bank purchased 2,799,964 shares of Goldman Sachs, which amounts to an investment of approximately $1,603,315,000. Following this acquisition, Norges Bank now holds about 0.90% of the total shares of The Goldman Sachs Group as reported in their most recent filing.

Recent Activity by Other Investors

In addition to Norges Bank, several other institutional investors have recently adjusted their positions in The Goldman Sachs Group. For instance, Blair William & Co. IL increased its stake by 8.4% in the fourth quarter, bringing its total ownership to 155,915 shares valued at $89,280,000 following an additional purchase of 12,091 shares. Similarly, LM Advisors LLC raised its stake by 5.9%, now owning 3,572 shares worth $2,045,000 after buying 199 more shares. Also, Homestead Advisers Corp grew its holdings by 1.0%, with a new total of 265,536 shares valued at $152,051,000. NEOS Investment Management LLC increased its stake by 30.0%, acquiring a total of 16,323 shares valued at $9,347,000. Finally, UniSuper Management Pty Ltd also boosted its position by 2.5%, owning 98,278 shares worth $56,276,000.

Share Performance of Goldman Sachs

As of Thursday, The Goldman Sachs Group's shares opened at $573.37. The company has a quick ratio of 0.67, a current ratio of 0.67, and a debt-to-equity ratio of 2.32. Over the last year, the stock has fluctuated between a low of $387.12 and a high of $672.19. The 50-day and 200-day simple moving averages stand at $610.88 and $570.63, respectively. Currently, the company's market capitalization is $178.91 billion, with a price-to-earnings ratio of 14.14, a PEG ratio of 0.89, and a beta of 1.37.

Recent Earnings Report

The Goldman Sachs Group last announced its earnings on January 15th, where it reported an earnings per share (EPS) of $11.95 for the quarter, surpassing the average estimate of $8.21 by $3.74. The company had a net margin of 11.32% and a 13.30% return on equity. Revenue for that quarter was recorded at $13.87 billion, significantly above analysts' expectations of $12.36 billion. Compared to the previous year, the revenue represents a 22.5% increase. Analysts predict that Goldman Sachs will report an EPS of 47.12 for the current fiscal year.

Dividend Declaration

Moreover, Goldman Sachs has declared a quarterly dividend that will be distributed on March 28th. Shareholders on record as of February 28th will receive a $3.00 dividend. The ex-dividend date is also set for February 28th. This dividend represents an annual payout of $12.00, resulting in a yield of 2.09%, with a current dividend payout ratio of 29.59%.

Analyst Recommendations

Equities analysts have recently made various recommendations regarding The Goldman Sachs Group, Inc. Keefe, Bruyette & Woods downgraded the stock from an "outperform" rating to a "market perform" rating, lowering the price target from $690.00 to $660.00. Oppenheimer made a similar downgrade. Meanwhile, JPMorgan Chase & Co. upgraded their target price from $605.00 to $625.00, maintaining an "overweight" rating. Barclays raised their price target from $713.00 to $760.00, also issuing an "overweight" rating. UBS Group increased their target price from $610.00 to $640.00, rating the stock as “neutral.” Overall, ten analysts have given a hold rating, while eight have issued buy ratings, leading to an average rating of "Hold" with a consensus target price of $593.27 according to MarketBeat.

Insider Activity at Goldman Sachs

In insider transactions, Kathryn H. Ruemmler sold 7,498 shares of Goldman Sachs on January 21st, valued at approximately $4,758,905.62. Following this transaction, she now holds 9,589 shares worth around $6,086,042.41. Treasurer Carey Halio also sold 1,545 shares on the same day for $965,115.15, reducing her ownership by 15.87%. Over the last quarter, insiders collectively sold shares worth $12,630,683, representing 0.54% of total shares being held by corporate insiders.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc. is a global financial institution that offers a variety of financial services to corporations, governments, and individuals. The company operates across several segments, including Global Banking & Markets, Asset & Wealth Management, and Platform Solutions. The Global Banking & Markets segment provides financial advisory services, including those related to mergers and acquisitions, and various forms of lending.

Norges Bank, Goldman Sachs, Investment