Gabelli Funds LLC Sells 5,160 Shares of The Goldman Sachs Group, Inc. $GS

Gabelli Funds LLC decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 10.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 44,510 shares of the investment management company’s stock after selling 5,160 shares during the quarter. Gabelli Funds LLC’s holdings in The Goldman Sachs Group were worth $37,655,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $2,515,830,000. Corient Private Wealth LLC lifted its stake in shares of The Goldman Sachs Group by 1,657.7% during the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after acquiring an additional 2,448,767 shares during the period. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter valued at $2,024,921,000. Northwestern Mutual Wealth Management Co. boosted its holdings in The Goldman Sachs Group by 428.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock valued at $488,947,000 after acquiring an additional 450,984 shares during the last quarter. Finally, Diamant Asset Management Inc. boosted its holdings in The Goldman Sachs Group by 84,499.0% in the first quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company’s stock valued at $35,785,000 after acquiring an additional 422,495 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Down 1.4%

NYSE GS opened at $1,059.81 on Friday. The Goldman Sachs Group, Inc. has a 12 month low of $694.05 and a 12 month high of $1,153.99. The stock has a 50-day simple moving average of $1,047.33 and a 200 day simple moving average of $951.92. 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 company has a market capitalization of $312.65 billion, a PE ratio of 16.36, a P/E/G ratio of 1.09 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its 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 analysts’ expectations 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 was up 39.4% compared to the same quarter last year. During the same quarter last year, the business earned $10.91 earnings per share. Research analysts forecast that The Goldman Sachs Group, Inc. will post 68.83 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is 30.87%.

Insider Buying and Selling

In related news, 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 transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the sale, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. The trade was a 47.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,450 shares of company stock valued at $29,668,201 in the last 90 days. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs was highlighted on a momentum screen using the Driehaus strategy, with strong earnings and favorable price trends supporting the stock’s bullish setup. 3 High-Momentum Stocks to Buy Now Before They Surge
• Positive Sentiment: Investors are reacting to follow-up coverage on Goldman Sachs’ blowout Q2 results, with articles pointing to continued earnings momentum and the potential for further upside after the record quarter. What’s next for Goldman Sachs after its blowout Q2 earnings?
• Positive Sentiment: Goldman Sachs is expanding into private markets for wealthy clients, including access to pre-IPO opportunities, which could open a new revenue stream and strengthen its wealth-management franchise. Goldman Sachs Wants Its Wealthy Clients in on the Next SpaceX Before It Goes Public
• Positive Sentiment: Goldman Sachs’ CEO also backed the Senate’s CLARITY Act on crypto market structure, signaling support for clearer rules that could benefit its digital-asset and trading businesses over time. Goldman Sachs CEO backs ‘not perfect’ CLARITY Act as vote expected soon
• Neutral Sentiment: Goldman Sachs also appeared in several analyst and market commentary pieces calling it a strong momentum or long-term stock, reinforcing positive sentiment but without adding new hard catalysts. Goldman Sachs (GS) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: Macro headlines about rising oil, inflation concerns, and a stronger dollar may be creating some offsetting caution for the broader market, though these are not Goldman-specific negatives. Global Inflation Angst Is Back With $100 Oil and More Tariffs

Analysts Set New Price Targets

Several analysts have weighed in on GS shares. CICC Research boosted their price objective on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. 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. Rothschild & Co Redburn boosted their price target on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Finally, Bank of America boosted their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $1,061.43.

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.