Sterling Capital Management LLC Cuts Position in The Goldman Sachs Group, Inc. $GS

Sterling Capital Management LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 34,888 shares of the investment management company’s stock after selling 579 shares during the quarter. Sterling Capital Management LLC’s holdings in The Goldman Sachs Group were worth $29,515,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dagco Inc. purchased a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter worth $26,000. Manning & Napier Advisors LLC boosted its position in The Goldman Sachs Group by 287.5% during the 4th 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 period. Steph & Co. acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at $27,000. Finally, Lifetime Wealth Management P.C. acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $29,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Summary

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 firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This trade represents a 61.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction dated 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 owned 15,657 shares in the company, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. 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 ninety days. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on GS. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. Morgan Stanley set a $900.00 target price on The Goldman Sachs Group in a research note on Friday, June 12th. HSBC raised their target price on The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Jefferies Financial Group reduced their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Evercore lowered their price objective on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Nine research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $960.68.

The Goldman Sachs Group Stock Down 4.1%

Shares of NYSE GS opened at $1,021.45 on Friday. 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 1 year low of $685.39 and a 1 year high of $1,125.00. The stock’s 50-day simple moving average is $996.38 and its 200-day simple moving average is $928.21. The firm has a market cap of $301.34 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.39 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same quarter last year, the firm earned $14.12 EPS. The Goldman Sachs Group’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 59.6 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.8%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.89%.

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.