HB Wealth Management LLC Purchases 627 Shares of The Goldman Sachs Group, Inc. $GS

HB Wealth Management LLC increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.4% in the first quarter, Holdings Channel reports. The fund owned 19,083 shares of the investment management company’s stock after purchasing an additional 627 shares during the quarter. HB Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $16,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $2,515,830,000. Corient Private Wealth LLC raised its stake in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after buying an additional 2,448,767 shares in the last quarter. Wellington Management Group LLP raised its stake in The Goldman Sachs Group by 110.8% in the third quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company’s stock worth $1,417,997,000 after buying an additional 936,015 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in The Goldman Sachs Group by 428.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after buying an additional 450,984 shares during the period. Finally, Diamant Asset Management Inc. boosted its position in The Goldman Sachs Group by 84,499.0% during the 1st quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company’s stock valued at $35,785,000 after acquiring an additional 422,495 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Key Stories Impacting The Goldman Sachs Group

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Dbs Bank lifted their price target on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Evercore dropped their price objective on 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. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Finally, Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $974.18.

Insider Buying and Selling at The Goldman Sachs Group

In related news, 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 transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction 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 transaction, the insider owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% 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 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,022.00 on Friday. 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 stock 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 P/E ratio of 18.68, a P/E/G ratio of 1.32 and a beta of 1.30. The Goldman Sachs Group, Inc. has a one year low of $691.30 and a one year high of $1,125.00.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. During the same period last year, the business posted $14.12 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 60.18 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were paid 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%.

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.