Glenview Trust Co Buys 1,290 Shares of The Goldman Sachs Group, Inc. $GS

Glenview Trust Co boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 99,453 shares of the investment management company’s stock after purchasing an additional 1,290 shares during the quarter. The Goldman Sachs Group comprises 1.3% of Glenview Trust Co’s holdings, making the stock its 22nd largest position. Glenview Trust Co’s holdings in The Goldman Sachs Group were worth $84,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Vanguard Group Inc. grew its holdings in shares of The Goldman Sachs Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after purchasing an additional 418,820 shares during the last quarter. State Street Corp lifted its holdings in The Goldman Sachs Group by 2.1% during the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock valued at $17,197,444,000 after purchasing an additional 394,198 shares during the last quarter. Fisher Asset Management LLC boosted its position in The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock valued at $5,952,199,000 after buying an additional 110,134 shares in the last quarter. Geode Capital Management LLC boosted its position in The Goldman Sachs Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after buying an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in The Goldman Sachs Group by 3.4% during the fourth quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock worth $5,254,692,000 after buying an additional 194,109 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs’ research and market commentary are reinforcing a constructive view on the bank sector, with articles highlighting strong Q2 beats, double-digit earnings growth expectations, and attractive non-AI investment themes. This can help sentiment around GS as investors rotate toward financials and away from crowded tech trades. Zacks Market Edge Highlights: Goldman Sachs, Wells Fargo, JPMorgan Chase , Citigroup and Bank of America
• Positive Sentiment: Goldman Sachs is also getting attention for highlighting “non-AI” winners and for noting that hedge funds are trimming tech exposure at a record pace, which suggests a possible sector rotation into value and financials. That backdrop may be helping GS outperform broader market caution around tech. Buy These Five Non-AI Stocks, Says Goldman Sachs (GS)
• Positive Sentiment: Several reports point to Goldman Sachs’ strong positioning and successful calls around market themes, including recommendations tied to the cooling AI trade. That can boost confidence in GS as a research leader and a beneficiary of active trading and advisory activity. Scared of the AI trade? Here are three investment themes instead, says Goldman Sachs
• Neutral Sentiment: Goldman Sachs also reported on inflation broadening out, which is a macro observation rather than a direct company catalyst. It may influence rate expectations and bank-sector trading, but the impact on GS is indirect. Inflation is broadening out, says Goldman economist
• Neutral Sentiment: The firm announced a proposed public offering of depositary shares / preferred stock. While this strengthens funding flexibility, investors may also see it as a mild overhang because it can increase share count or signal balance-sheet management needs. Goldman Sachs Plans New Preferred Stock Offering
• Negative Sentiment: Goldman Sachs’ warning that hedge funds are selling U.S. tech stocks at a record pace underscores rising market volatility and a more cautious risk backdrop. Even if that rotation helps banks relatively, it can still make investors more defensive overall. Goldman Says Hedge Funds Sell US Tech Stocks at Record Pace

The Goldman Sachs Group Stock Down 1.0%

Shares of GS opened at $1,054.16 on Tuesday. The business’s fifty day moving average price is $1,037.38 and its two-hundred day moving average price is $947.02. The firm has a market capitalization of $310.99 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.11 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52 week low of $691.88 and a 52 week high of $1,153.99. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.63 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The company had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter in the previous year, the company posted $10.91 earnings per share. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. On average, analysts predict that The Goldman Sachs Group, Inc. will post 66.83 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

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

Wall Street Analyst Weigh In

GS has been the subject of a number of research analyst reports. Dbs Bank lifted their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Weiss Ratings lowered The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Citigroup raised their price target on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a report on Thursday. Rothschild & Co Redburn boosted their price objective on 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, BMO Capital Markets increased their target price on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a “market perform” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1,061.43.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 32,566 shares of company stock valued at $30,712,978. 0.55% of the stock is currently owned by company insiders.

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.