Connor Clark & Lunn Investment Management Ltd. Sells 33,070 Shares of The Goldman Sachs Group, Inc. $GS

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 33.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,897 shares of the investment management company’s stock after selling 33,070 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Goldman Sachs Group were worth $67,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GS. BOK Financial Private Wealth Inc. grew its holdings in shares of The Goldman Sachs Group by 188.9% in the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after acquiring an additional 17 shares during the period. Turim 21 Investimentos Ltda. bought a new position in The Goldman Sachs Group in the first quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC boosted 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 worth $27,000 after purchasing an additional 23 shares during the last quarter. Finally, Steph & Co. purchased a new position in The Goldman Sachs Group in the first quarter worth about $27,000. 71.21% of the stock is owned by institutional investors.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman’s involvement with potential future IPOs, including beverage brand Liquid Death, could support investment-banking revenue if the company proceeds with a public offering. However, Liquid Death’s CEO did not provide a timeline. Liquid Death CEO Dodges IPO Question Despite Goldman Sachs Ties
• Positive Sentiment: Goldman research highlighting stronger-than-reported Chinese gold demand and renewed expectations for Chinese economic easing could benefit the firm’s commodities, markets and advisory activity if trading and capital flows increase. China Gold Buying Far Exceeds Official PBOC Reports, Goldman Sachs Data Shows
• Neutral Sentiment: Goldman executive Chris Churchman warned that excessive reliance on AI could cause “cognitive atrophy” among junior bankers. The comments emphasize the need to preserve Goldman’s apprenticeship model while using AI, but do not indicate a change to earnings or strategy. Goldman Sachs partner warns of huge danger in letting AI replace bankers’ reasoning skills
• Neutral Sentiment: Articles comparing GS with finance peers and discussing Goldman’s stock performance provide market context but no new fundamental catalyst. Is The Goldman Sachs Group Stock Outpacing Its Finance Peers This Year?
• Negative Sentiment: Mark Walter’s TWG Global hired a former Goldman executive as its top lawyer while federal authorities investigate how two TWG-linked insurers classified more than $20 billion in loans. Although Goldman is not identified as the investigation’s target, the connection may create reputational and headline risk. Mark Walter’s TWG Global hires Goldman veteran Markowitz as top lawyer amid probe of insurers

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,036.86 on Tuesday. The business has a 50-day simple moving average of $1,053.15 and a two-hundred day simple moving average of $965.21. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group, Inc. has a 52 week low of $721.16 and a 52 week high of $1,153.99. The stock has a market cap of $301.90 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data 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 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 19.16% and a net margin of 15.53%.The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned $10.91 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

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

Wall Street Analyst Weigh In

GS has been the subject of several research reports. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Bank of America raised their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup boosted their target price 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, July 16th. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus target price of $1,062.86.

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.