Vestcor Inc Lowers Stock Position in The Goldman Sachs Group, Inc. $GS

Vestcor Inc cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,618 shares of the investment management company’s stock after selling 500 shares during the period. Vestcor Inc’s holdings in The Goldman Sachs Group were worth $6,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GS. Brighton Jones LLC grew its position in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after acquiring an additional 58 shares during the last quarter. Sivia Capital Partners LLC grew its position in The Goldman Sachs Group by 90.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company’s stock valued at $1,098,000 after buying an additional 735 shares during the last quarter. Schnieders Capital Management LLC. grew its position in The Goldman Sachs Group by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock valued at $581,000 after buying an additional 70 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in The Goldman Sachs Group by 22.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock valued at $1,522,000 after buying an additional 391 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 15,657 shares in the company, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 31,070 shares of the company’s stock, valued at $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders 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 owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GS. Weiss Ratings lowered shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $765.00 to $930.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Daiwa Securities Group lifted their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Evercore lowered their price objective on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Finally, Bank of America lowered their price objective on shares of The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Nine investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $943.95.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs was selected, along with Morgan Stanley, to lead Anthropic’s IPO, reinforcing Goldman’s role in major upcoming capital markets deals and supporting confidence in its investment banking franchise.
• Positive Sentiment: Goldman also remains a lead underwriter and visible player in high-profile offerings like SpaceX, with reports highlighting aggressive revenue projections for SpaceX’s AI business ahead of that IPO.
• Positive Sentiment: Jim Cramer said “We Love Goldman,” adding a public bullish endorsement that can improve sentiment around the stock.
• Positive Sentiment: Goldman’s recent market commentary has been constructive, including calls to buy the stock market dip and a view that long-term growth and risk assets remain supported.
• Neutral Sentiment: Goldman disclosed a 3.14% voting stake in QIAGEN, but this looks like a routine holdings disclosure rather than a direct catalyst for GS shares. Goldman Sachs Discloses 3.14% Voting Stake in QIAGEN
• Neutral Sentiment: Goldman Sachs also issued several stock-rating updates on other companies, including upgrades and target hikes for names like Hilton Grand Vacations and Broadcom, which mainly underscore the strength of its research platform.
• Neutral Sentiment: Reports that Goldman’s CEO expects entry-level hiring to “contract a little” as AI changes staffing mix are more of a long-term operating note than an immediate stock driver.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $1,040.16 on Friday. The Goldman Sachs Group, Inc. has a one year low of $609.31 and a one year high of $1,098.36. 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 business has a fifty day moving average of $936.56 and a two-hundred day moving average of $900.85. The company has a market cap of $306.86 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS 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 company had revenue of $17.23 billion during the quarter, compared to the consensus estimate of $16.66 billion. During the same quarter last year, the company earned $14.12 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be issued a $4.50 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 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.