Brookstone Capital Management Has $6.29 Million Position in The Goldman Sachs Group, Inc. $GS

Brookstone Capital Management cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.9% in the first quarter, Holdings Channel reports. The institutional investor owned 7,431 shares of the investment management company’s stock after selling 639 shares during the period. Brookstone Capital Management’s holdings in The Goldman Sachs Group were worth $6,286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dagco Inc. bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth $26,000. Manning & Napier Advisors LLC grew its position in The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Lifetime Wealth Management P.C. bought a new position in The Goldman Sachs Group in the fourth quarter valued at $29,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs’ equities trading revenue is expected to exceed $5 billion, pointing to a potential record quarter and stronger-than-expected trading results. Goldman Equities Haul to Rip Past 5 Billion Toward New Record
• Positive Sentiment: A separate report also said Goldman Sachs’ equities trading revenue is set to top $5 billion, reinforcing optimism around the firm’s trading franchise. Goldman Sachs equities trading revenue set to top 5B report
• Positive Sentiment: JPMorgan reportedly lifted its price target on Goldman Sachs and expects a strong trading-driven quarter, adding to sentiment that earnings could surprise to the upside. JPMorgan lifts Goldman Sachs GS target expects strong trading driven quarter
• Neutral Sentiment: Goldman Sachs analysts and strategists were active in the news cycle, including comments on AI valuations, oil demand, and recession odds, but these headlines are more about Goldman’s market views than a direct driver of GS shares. Investor assumptions about the AI trade are starting to stretch reality Goldman Sachs says
• Neutral Sentiment: The company also disclosed stakes in Qiagen and exited a stake in Resolute Mining, but those filings are unlikely to move GS stock meaningfully on their own. Goldman Sachs discloses 3.28 stake in Qiagen via shares and derivatives
• Neutral Sentiment: Goldman Sachs’ recession-risk cut to 15% and its work-from-home-for-the-World-Cup coverage are more macro or corporate-news items than direct stock catalysts. Goldman cuts U.S. recession risk to 15 percent after Iran deal

Analysts Set New Price Targets

A number of equities analysts have recently commented on GS shares. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Rothschild & Co Redburn upped their target price on The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Dbs Bank increased their price target on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Finally, UBS Group boosted their price target on The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $949.55.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction dated 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 transaction, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,681 shares of company stock worth $31,737,875 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Down 0.9%

Shares of The Goldman Sachs Group stock opened at $1,096.33 on Wednesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The business has a fifty day simple moving average of $987.12 and a two-hundred day simple moving average of $924.38. The Goldman Sachs Group, Inc. has a 1 year low of $653.23 and a 1 year high of $1,125.00. The company has a market capitalization of $323.43 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.44 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $14.12 earnings per share. Research analysts forecast that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be issued a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.6%. The Goldman Sachs Group’s payout ratio 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.