Cornerstone Wealth Group LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 19.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,933 shares of the investment management company’s stock after selling 1,687 shares during the period. Cornerstone Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $6,424,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Dagco Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $26,000. Manning & Napier Advisors LLC raised its position in shares of The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Steph & Co. purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have issued reports on GS shares. BMO Capital Markets lifted their target price on The Goldman Sachs Group from $905.00 to $972.00 and gave the company a “market perform” rating in a research note on Monday, April 20th. Jefferies Financial Group lowered their price target on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the stock an “overweight” rating in a research report on Wednesday. Weiss Ratings lowered shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $960.68.
The Goldman Sachs Group Trading Down 4.1%
The Goldman Sachs Group stock opened at $1,021.45 on Friday. The stock has a 50-day moving average of $996.38 and a two-hundred day moving average of $928.21. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The Goldman Sachs Group, Inc. has a one year low of $685.39 and a one year high of $1,125.00. The stock has a market cap of $301.34 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business had revenue of $17.23 billion during the quarter, compared to the consensus estimate of $16.66 billion. During the same quarter last year, the company earned $14.12 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current fiscal 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 paid a $4.50 dividend. The ex-dividend date is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.89%.
Trending Headlines about The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs highlighted three stocks positioned to benefit from the projected $757 billion AI capex supercycle, reinforcing its influence and constructive stance on major growth themes. Goldman Sachs Predicts 3 Stocks to Benefit Most From $757B AI’s Capex Supercycle
- Positive Sentiment: Investors are looking ahead to Goldman Sachs’ second-quarter earnings, with expectations for double-digit earnings growth, which could support sentiment if results confirm strength in trading and investment banking. Here’s What to Expect From Goldman Sachs’ Next Earnings Report
- Neutral Sentiment: Rothschild & Co Redburn raised its price target on Goldman Sachs but maintained a neutral rating, suggesting the shares may be fairly valued after their run-up. MarketScreener report on Rothschild & Co Redburn target change
- Neutral Sentiment: Goldman Sachs remains in the market spotlight, with investors heavily searching the stock and watching for catalysts, but this is more a sentiment indicator than a direct fundamental driver. Investors Heavily Search The Goldman Sachs Group, Inc. (GS): Here is What You Need to Know
Insider Activity at The Goldman Sachs Group
In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the business’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 sale, the chief accounting officer owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alex S. Golten sold 1,116 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the transaction, the insider owned 2,578 shares in the company, valued at $2,413,472.04. The trade was a 30.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,681 shares of company stock valued at $31,737,875 over the last 90 days. Company insiders own 0.55% of the company’s stock.
The Goldman Sachs Group 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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