Rice Partnership LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,848 shares of the investment management company’s stock, valued at approximately $7,485,000. The Goldman Sachs Group comprises about 1.0% of Rice Partnership LLC’s investment portfolio, making the stock its 26th biggest position.
Other institutional investors also recently bought and sold shares of the company. Dagco Inc. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC increased its holdings in The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Steph & Co. acquired a new position in The Goldman Sachs Group during the first quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. acquired a new position in The Goldman Sachs Group during the fourth quarter worth about $29,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at The Goldman Sachs Group
In related news, CAO Sheara J. Fredman sold 10,301 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the transaction, the chief accounting officer owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of the 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 transaction, the insider directly owned 2,578 shares in the company, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,566 shares of company stock valued at $30,712,978 over the last three months. Insiders own 0.55% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on The Goldman Sachs Group
The Goldman Sachs Group Stock Performance
The Goldman Sachs Group stock opened at $1,054.16 on Tuesday. The stock has a fifty day moving average price of $1,037.38 and a 200 day moving average price of $947.02. The Goldman Sachs Group, Inc. has a 52 week low of $691.88 and a 52 week high of $1,153.99. The firm has a market capitalization of $310.99 billion, a P/E ratio of 16.27, a PEG ratio of 1.11 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 2.83.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The firm had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The firm’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the company earned $10.91 EPS. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 66.83 earnings per share for the current year.
The Goldman Sachs Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $5.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio is 27.78%.
The Goldman Sachs Group News Roundup
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs’ research and market commentary are reinforcing a constructive view on the bank sector, with articles highlighting strong Q2 beats, double-digit earnings growth expectations, and attractive non-AI investment themes. This can help sentiment around GS as investors rotate toward financials and away from crowded tech trades. Zacks Market Edge Highlights: Goldman Sachs, Wells Fargo, JPMorgan Chase , Citigroup and Bank of America
- Positive Sentiment: Goldman Sachs is also getting attention for highlighting “non-AI” winners and for noting that hedge funds are trimming tech exposure at a record pace, which suggests a possible sector rotation into value and financials. That backdrop may be helping GS outperform broader market caution around tech. Buy These Five Non-AI Stocks, Says Goldman Sachs (GS)
- Positive Sentiment: Several reports point to Goldman Sachs’ strong positioning and successful calls around market themes, including recommendations tied to the cooling AI trade. That can boost confidence in GS as a research leader and a beneficiary of active trading and advisory activity. Scared of the AI trade? Here are three investment themes instead, says Goldman Sachs
- Neutral Sentiment: Goldman Sachs also reported on inflation broadening out, which is a macro observation rather than a direct company catalyst. It may influence rate expectations and bank-sector trading, but the impact on GS is indirect. Inflation is broadening out, says Goldman economist
- Neutral Sentiment: The firm announced a proposed public offering of depositary shares / preferred stock. While this strengthens funding flexibility, investors may also see it as a mild overhang because it can increase share count or signal balance-sheet management needs. Goldman Sachs Plans New Preferred Stock Offering
- Negative Sentiment: Goldman Sachs’ warning that hedge funds are selling U.S. tech stocks at a record pace underscores rising market volatility and a more cautious risk backdrop. Even if that rotation helps banks relatively, it can still make investors more defensive overall. Goldman Says Hedge Funds Sell US Tech Stocks at Record Pace
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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