Goldman Sachs executive sells over $6.8 million in company stock

Goldman Sachs executive sells over $6.8 million in company stock
Credit: © Reuters.

Goldman Sachs Group Inc. (NYSE: GS ) executive vice president John F.W. Rogers (NYSE: ROG ) has sold a significant portion of his holdings in the company, according to recent filings. The transactions, which took place on May 16, 2024, involved the sale of various blocks of Goldman Sachs common stock, totaling $6,897,657.

The sales were executed at prices ranging from $465.16 to $467.83 per share, reflecting the stock's performance on the day of the transaction. The exact number of shares sold at each price point was not disclosed in the filing, but the weighted average prices for the shares sold in each transaction were provided in detailed footnotes.

Rogers, who serves as an executive vice president at Goldman Sachs, carried out multiple sales of the company's common stock. The largest single transaction involved the sale of 3,648 shares at an average price of $467.04 per share. Another notable sale included 2,226 shares at an average price of $465.23 per share.

Following these transactions, Rogers' remaining holdings in Goldman Sachs were adjusted, with post-transaction amounts varying for each sale. The shares sold by Rogers were held both directly and indirectly through family trusts. According to the footnotes provided in the filing, Rogers' spouse is the sole trustee of the trusts involved, and their immediate family members are the sole beneficiaries. Rogers has disclaimed beneficial ownership of these shares.

These filings are part of the standard disclosures required for executives and are a routine part of monitoring insider transactions. Investors often keep an eye on insider sales and purchases as they can provide insights into executives' perspectives on the company's future performance.

Goldman Sachs has not issued any statement regarding these transactions, and they appear to be in line with regular stock trading activities by corporate executives. The company continues to operate as a leading global investment banking, securities, and investment management firm, with its headquarters located at 200 West Street, New York, NY.

InvestingPro Insights

Goldman Sachs Group Inc. (NYSE:GS), a dominant player in the capital markets industry, has shown robust financial performance in recent times. According to InvestingPro data, the company boasts a market capitalization of $157.45 billion, reflecting investor confidence in its business model and market position. The firm's price-to-earnings (P/E) ratio stands at 18.06, which adjusts to a slightly lower 15.79 when considering the last twelve months as of Q1 2024, indicating a potentially more favorable valuation for investors looking at the company's earnings capacity over the past year.

InvestingPro Tips highlight that Goldman Sachs has a track record of rewarding its shareholders, having raised its dividend for 12 consecutive years, with a current dividend yield of 2.35%. This consistent dividend growth, including a 10.0% increase in the last twelve months as of Q1 2024, underscores the firm's commitment to returning value to investors. Moreover, the company's stock has experienced significant appreciation, with a price total return of 47.94% over the past year, which is near its 52-week high, trading at 98.28% of this peak value.

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