Public Employees Retirement System of Ohio lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,608 shares of the investment management company’s stock after purchasing an additional 1,625 shares during the period. Public Employees Retirement System of Ohio’s holdings in The Goldman Sachs Group were worth $104,571,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in GS. Vanguard Group Inc. grew its holdings in The Goldman Sachs Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock valued at $25,503,685,000 after buying an additional 418,820 shares in the last quarter. State Street Corp increased its stake in shares of The Goldman Sachs Group by 2.1% in the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after acquiring an additional 394,198 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of The Goldman Sachs Group by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after acquiring an additional 110,134 shares during the period. Geode Capital Management LLC boosted its position in shares of The Goldman Sachs Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after acquiring an additional 45,266 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of The Goldman Sachs Group by 3.4% during the 4th quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock valued at $5,254,692,000 after acquiring an additional 194,109 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions 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 three months, insiders have sold 31,450 shares of company stock worth $29,668,201. 0.55% of the stock is currently owned by insiders.
The Goldman Sachs Group Stock Down 2.2%
The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The Goldman Sachs Group’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.91 earnings per share. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 68.83 EPS for the current year.
The Goldman Sachs Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a $5.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group’s payout ratio is presently 27.78%.
Trending Headlines about The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs posted record quarterly earnings per share of $20.98, with strong revenue and profit growth that reinforced the company’s earnings momentum and supported the stock’s valuation. David Solomon’s Goldman Sachs Just Posted a Record $20.98 in Quarterly Earnings Per Share. Here’s What Powered It.
- Positive Sentiment: Management is backing the Senate’s CLARITY Act for crypto market structure, which could help Goldman’s digital asset and trading businesses by creating clearer rules and a more favorable operating framework. Goldman Sachs CEO Supports Senate CLARITY Act Despite Industry Doubts
- Positive Sentiment: Several market commentary pieces highlighted Goldman Sachs as a strong momentum and long-term stock, which may be adding to bullish sentiment around the shares. Goldman Sachs (GS) is a Great Momentum Stock: Should You Buy?
- Positive Sentiment: Goldman launched a private markets platform for wealthy clients, expanding its alternatives offering and potentially opening a new fee-generating growth avenue. Goldman Sachs backs surprising non-AI stocks
- Neutral Sentiment: Recent articles about oil prices, portfolio positioning, and analyst notes mainly reflect Goldman Sachs’ market influence and research activity, but they are less directly tied to GS’s own earnings or fundamentals.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on GS shares. CICC Research upped their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. 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. Barclays increased their price target on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1,061.43.
Read Our Latest Research Report on GS
About The Goldman Sachs Group
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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