Jennison Associates LLC Decreases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Jennison Associates LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,322,121 shares of the investment management company’s stock after selling 30,886 shares during the quarter. Jennison Associates LLC’s holdings in The Goldman Sachs Group were worth $1,118,501,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in GS. Norges Bank purchased 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 lifted its position in The Goldman Sachs Group by 1,657.7% during the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after purchasing an additional 2,448,767 shares during the period. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the first quarter worth approximately $2,024,921,000. Northwestern Mutual Wealth Management Co. boosted its holdings in The Goldman Sachs Group by 428.4% in 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 purchasing an additional 450,984 shares during the last quarter. Finally, Diamant Asset Management Inc. grew its position in The Goldman Sachs Group by 84,499.0% in the 1st quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company’s stock worth $35,785,000 after purchasing an additional 422,495 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

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.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. UBS Group raised their price target on The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Bank of America lifted their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday. HSBC upped their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research report on Monday, May 4th. Finally, Wall Street Zen raised The Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Saturday. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1,061.43.

The Goldman Sachs Group Stock Down 2.7%

Shares of GS stock opened at $1,066.28 on Friday. 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 12 month low of $691.88 and a 12 month high of $1,153.99. The stock has a market cap of $314.56 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.20 and a beta of 1.30. The company has a 50 day simple moving average of $1,035.20 and a two-hundred day simple moving average of $945.44.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The business had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. During the same quarter last year, the company posted $10.91 EPS. The company’s revenue was up 39.4% compared to the same quarter last year. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 66.83 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $5.00 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is 30.87%.

Insider Buying and Selling

In related news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group 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 transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex S. Golten sold 1,116 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the sale, the insider directly owned 2,578 shares of the company’s stock, valued at $2,413,472.04. This represents a 30.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,566 shares of company stock valued at $30,712,978 over the last three months. 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.