Allspring Global Investments Holdings LLC Has $78.15 Million Stake in The Goldman Sachs Group, Inc. $GS

Allspring Global Investments Holdings LLC raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 58.7% in the first quarter, Holdings Channel reports. The fund owned 90,848 shares of the investment management company’s stock after acquiring an additional 33,619 shares during the period. Allspring Global Investments Holdings LLC’s holdings in The Goldman Sachs Group were worth $78,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GS. Acropolis Investment Management LLC grew its position in shares of The Goldman Sachs Group by 1.8% in the 4th quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock valued at $554,000 after purchasing an additional 11 shares during the period. Walkner Condon Financial Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 2.0% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock worth $505,000 after buying an additional 11 shares in the last quarter. Optas LLC increased its stake in The Goldman Sachs Group by 0.4% during the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock worth $2,244,000 after acquiring an additional 11 shares during the period. Pines Wealth Management LLC boosted its holdings in shares of The Goldman Sachs Group by 0.4% in the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after purchasing an additional 11 shares in the last quarter. Finally, Welch & Forbes LLC boosted its stake in shares of The Goldman Sachs Group by 0.8% in the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the firm’s stock in a transaction dated 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 directly owned 6,338 shares in the company, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 6,857 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 31,070 shares in the company, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,566 shares of company stock worth $30,712,978. 0.55% of the stock is currently owned by insiders.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,066.28 on Friday. The company’s fifty day moving average price is $1,035.20 and its 200-day moving average price is $945.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The firm has a market capitalization of $314.56 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.24 and a beta of 1.30. The Goldman Sachs Group, Inc. has a one year low of $691.88 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $10.91 earnings per share. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 64.34 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GS shares. CICC Research boosted their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a report on Wednesday. Daiwa Securities Group lifted their price objective 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. Finally, Citigroup raised their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a research report on Thursday. Nine equities 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 company. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $1,061.43.

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.