Gabelli Funds LLC Sells 5,160 Shares of The Goldman Sachs Group, Inc. $GS

Gabelli Funds LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,510 shares of the investment management company’s stock after selling 5,160 shares during the quarter. Gabelli Funds LLC’s holdings in The Goldman Sachs Group were worth $37,655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GS. Garton & Associates Financial Advisors LLC bought a new stake in The Goldman Sachs Group in the 4th quarter valued at $26,000. Manning & Napier Advisors LLC raised 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 valued at $27,000 after buying an additional 23 shares in the last quarter. Steph & Co. bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth about $27,000. Lifetime Wealth Management P.C. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $29,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $31,000. 71.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 transaction of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 31,450 shares of company stock valued at $29,668,201. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GS has been the topic of a number of analyst reports. Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. BMO Capital Markets lifted their price objective on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Finally, CICC Research raised their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1,061.43.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $1,059.81 on Friday. The stock has a market capitalization of $312.65 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.09 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 2.83. The Goldman Sachs Group, Inc. has a 1 year low of $694.05 and a 1 year high of $1,153.99. The firm has a 50 day moving average of $1,047.33 and a 200-day moving average of $951.92.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS 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 business had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same period in the prior year, the company earned $10.91 EPS. The Goldman Sachs Group’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 68.83 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a $5.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 dividend on an annualized basis 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 30.87%.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs was highlighted on a momentum screen using the Driehaus strategy, with strong earnings and favorable price trends supporting the stock’s bullish setup. 3 High-Momentum Stocks to Buy Now Before They Surge
• Positive Sentiment: Investors are reacting to follow-up coverage on Goldman Sachs’ blowout Q2 results, with articles pointing to continued earnings momentum and the potential for further upside after the record quarter. What’s next for Goldman Sachs after its blowout Q2 earnings?
• Positive Sentiment: Goldman Sachs is expanding into private markets for wealthy clients, including access to pre-IPO opportunities, which could open a new revenue stream and strengthen its wealth-management franchise. Goldman Sachs Wants Its Wealthy Clients in on the Next SpaceX Before It Goes Public
• Positive Sentiment: Goldman Sachs’ CEO also backed the Senate’s CLARITY Act on crypto market structure, signaling support for clearer rules that could benefit its digital-asset and trading businesses over time. Goldman Sachs CEO backs ‘not perfect’ CLARITY Act as vote expected soon
• Neutral Sentiment: Goldman Sachs also appeared in several analyst and market commentary pieces calling it a strong momentum or long-term stock, reinforcing positive sentiment but without adding new hard catalysts. Goldman Sachs (GS) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: Macro headlines about rising oil, inflation concerns, and a stronger dollar may be creating some offsetting caution for the broader market, though these are not Goldman-specific negatives. Global Inflation Angst Is Back With $100 Oil and More Tariffs

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.