Whittier Trust Co. Has $77.85 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Whittier Trust Co. reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 89,887 shares of the investment management company’s stock after selling 12,384 shares during the period. The Goldman Sachs Group accounts for approximately 0.9% of Whittier Trust Co.’s portfolio, making the stock its 24th largest position. Whittier Trust Co.’s holdings in The Goldman Sachs Group were worth $77,847,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GS. Dagco Inc. bought a new position in The Goldman Sachs Group during the fourth quarter worth $25,000. 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 boosted its holdings in 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 purchasing an additional 23 shares during the period. Steph & Co. bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $29,000. 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’ 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

Wall Street Analysts Forecast Growth

GS has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of 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. CICC Research upped their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Finally, Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Ten equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $974.18.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares in the company, 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. Over the last 90 days, insiders have sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $1,022.00 on Monday. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The business’s fifty day moving average price is $1,005.83 and its two-hundred day moving average price is $933.17. The Goldman Sachs Group, Inc. has a fifty-two week low of $691.30 and a fifty-two week high of $1,125.00. The stock has a market capitalization of $301.50 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.32 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. During the same quarter in the previous year, the company posted $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 60.18 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a dividend of $4.50 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The Goldman Sachs Group’s dividend payout ratio is currently 32.89%.

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.