Integrated Advisors Network LLC boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 18.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,794 shares of the investment management company’s stock after purchasing an additional 1,073 shares during the quarter. Integrated Advisors Network LLC’s holdings in The Goldman Sachs Group were worth $5,747,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of GS. Brighton Jones LLC boosted its stake in shares of The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after acquiring an additional 508 shares during the period. Revolve Wealth Partners LLC lifted its holdings in The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after purchasing an additional 58 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in The Goldman Sachs Group by 90.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company’s stock worth $1,098,000 after purchasing an additional 735 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in The Goldman Sachs Group by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock worth $581,000 after purchasing an additional 70 shares during the period. Finally, Main Street Financial Solutions LLC boosted its stake in The Goldman Sachs Group by 22.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock worth $1,522,000 after purchasing an additional 391 shares during the period. 71.21% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
GS has been the subject of a number of research analyst reports. Weiss Ratings raised shares of The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Rothschild & Co Redburn upped their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday. Bank of America raised their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted 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 report on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus price target of $986.91.
Key Headlines Impacting The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,150 from $1,050 and kept a buy rating, signaling confidence in further upside.
- Positive Sentiment: UBS also boosted its target to $1,120 from $940, reflecting a more constructive view on the stock ahead of earnings.
- Positive Sentiment: Analysts expect Goldman Sachs to post year-over-year earnings growth in its upcoming report, with commentary pointing to a high likelihood of an earnings beat.
- Positive Sentiment: Reuters reported that a strong quarter for Wall Street banks could be driven by higher trading revenue and advisory fees, including a boost from the SpaceX IPO and healthier M&A activity.
- Positive Sentiment: Goldman Sachs’ expanding role in EMEA M&A advisory underscores improving dealmaking trends that could support investment-banking revenue. Article Title
- Neutral Sentiment: Goldman Sachs is also in the news for market commentary and stock-picking calls on other companies, which is more about the firm’s research activity than a direct driver of GS earnings.
- Neutral Sentiment: The company’s hiring and technology-investment updates may help long-term efficiency, but they are not likely to move the stock much on their own.
- Negative Sentiment: Broader market weakness ahead of earnings season and some hedge-fund de-risking in tech and industrials may temper risk appetite for financial stocks in the near term.
Insider Buying and Selling
In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the sale, the insider directly owned 2,578 shares in the company, valued at $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 33,681 shares of company stock worth $31,737,875. Insiders own 0.55% of the company’s stock.
The Goldman Sachs Group Price Performance
The Goldman Sachs Group stock traded down $11.56 during mid-day trading on Tuesday, reaching $1,043.73. 358,983 shares of the company’s stock traded hands, compared to its average volume of 2,297,932. The company has a market cap of $307.91 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.32 and a beta of 1.30. The stock has a 50 day moving average of $1,005.83 and a two-hundred day moving average of $933.17. 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 Goldman Sachs Group, Inc. has a 12-month low of $691.30 and a 12-month high of $1,125.00.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings data 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 Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. During the same period last year, the company posted $14.12 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current year.
The Goldman Sachs Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were issued a $4.50 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.7%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.89%.
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.
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