Assetmark Inc. Decreases Stake in The Goldman Sachs Group, Inc. $GS

Assetmark Inc. cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,322 shares of the investment management company’s stock after selling 1,201 shares during the quarter. Assetmark Inc.’s holdings in The Goldman Sachs Group were worth $28,190,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GS. Acropolis Investment Management LLC lifted its stake in The Goldman Sachs Group by 1.8% in the fourth quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock worth $554,000 after acquiring an additional 11 shares during the last quarter. Walkner Condon Financial Advisors LLC increased its position in shares of The Goldman Sachs Group by 2.0% in the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock valued at $505,000 after purchasing an additional 11 shares during the last quarter. Optas LLC raised its holdings in shares of The Goldman Sachs Group by 0.4% in the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock valued at $2,244,000 after purchasing an additional 11 shares in the last quarter. Pines Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 0.4% in the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after purchasing an additional 11 shares in the last quarter. Finally, Welch & Forbes LLC lifted its position in shares of The Goldman Sachs Group by 0.8% during the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock worth $1,257,000 after purchasing an additional 11 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

The Goldman Sachs Group Trading Down 2.7%

GS opened at $1,066.28 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 2.83. The Goldman Sachs Group, Inc. has a 52 week low of $691.88 and a 52 week high of $1,153.99. The business’s 50 day moving average is $1,035.20 and its two-hundred day moving average is $945.44. The firm has a market cap of $314.56 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.20 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 the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $10.91 earnings per share. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 66.83 EPS for the current year.

The Goldman Sachs Group Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note 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 research note on Thursday. HSBC lifted their price target on The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Daiwa Securities Group increased their price objective on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $1,061.43.

Insider Buying and Selling 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 transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,566 shares of company stock worth $30,712,978 in the last quarter. 0.55% of the stock is currently owned by company insiders.

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.