The Goldman Sachs Group, Inc. $GS Stock Position Increased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,977 shares of the investment management company’s stock after buying an additional 1,049 shares during the quarter. The Goldman Sachs Group accounts for approximately 0.6% of QRG Capital Management Inc.’s investment portfolio, making the stock its 28th largest position. QRG Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $54,970,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dagco Inc. acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC grew its stake 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 purchasing an additional 23 shares during the last quarter. Steph & Co. acquired a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $27,000. Finally, Lifetime Wealth Management P.C. bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $29,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,022.00 on Friday. The Goldman Sachs Group, Inc. has a one year low of $691.30 and a one year high of $1,125.00. The company has a 50-day moving average of $1,005.83 and a two-hundred day moving average of $932.87. The stock has a market cap of $301.50 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.32 and a beta of 1.30. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $14.12 earnings per share. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group’s payout ratio is presently 32.89%.

Insider Activity

In other news, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction on Friday, May 1st. The stock was 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 owned 6,338 shares in the company, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value 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 approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,681 shares of company stock valued at $31,737,875 in the last 90 days. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs’ private credit fund reportedly continued to avoid meaningful redemption pressure, which supports confidence in one of the firm’s growing asset-management businesses. Redemption Pressures Remain Low at This Goldman Private Credit Fund
• Positive Sentiment: Goldman’s economists said AI could displace about 9% of the U.S. workforce, reinforcing the bank’s visibility on a major macro trend and keeping Goldman in the middle of market conversation. AI Will Displace 9% of the U.S. Workforce, Warns Goldman Economist
• Positive Sentiment: Goldman’s top strategist said investors are rotating within equities, with Europe and non-mega-cap areas holding up well, suggesting the firm remains influential on current portfolio positioning. Goldman’s Top Strategist Says Europe Is Quietly Keeping Pace With the S&P 500
• Neutral Sentiment: Goldman disclosed a derivative-based 2.9% stake and a 3.65% voting interest in Qiagen, but this appears to be a portfolio disclosure rather than a direct catalyst for GS shares. Goldman Sachs reports 2.9% stake in Qiagen via derivatives
• Neutral Sentiment: Financial stocks were broadly higher in late trading, which likely provided a sector tailwind for Goldman Sachs rather than a company-specific move. Sector Update: Financial Stocks Advance Late Afternoon

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup increased their target price on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 23rd. BNP Paribas Exane decreased their price target on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Rothschild & Co Redburn upped their price target on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Evercore cut their price objective on 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. Finally, Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $974.18.

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.