The Goldman Sachs Group, Inc. $GS Shares Bought by Destination Wealth Management

Destination Wealth Management raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 98.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,813 shares of the investment management company’s stock after buying an additional 901 shares during the quarter. Destination Wealth Management’s holdings in The Goldman Sachs Group were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GS. Harbor Capital Advisors Inc. acquired a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at $26,000. First PREMIER Bank acquired a new stake in The Goldman Sachs Group during the 3rd quarter worth $28,000. Corundum Trust Company INC purchased a new position in The Goldman Sachs Group during the 3rd quarter worth $29,000. Elevation Wealth Partners LLC grew its position in The Goldman Sachs Group by 100.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after purchasing an additional 20 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at $31,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 0.7%

Shares of The Goldman Sachs Group stock opened at $781.99 on Monday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $984.70. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.60. The company’s 50-day simple moving average is $910.83 and its 200-day simple moving average is $844.34. The firm has a market cap of $232.06 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Thursday, January 15th. The investment management company reported $13.55 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $2.03. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.72%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the firm earned $11.95 earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be issued a $4.50 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $18.00 annualized dividend and a dividend yield of 2.3%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s payout ratio is 35.09%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 2,846 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $927.17, for a total value of $2,638,725.82. Following the completion of the transaction, the treasurer owned 2,017 shares in the company, valued at approximately $1,870,101.89. This represents a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alex S. Golten sold 1,092 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $936.89, for a total value of $1,023,083.88. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 117,283 shares of company stock worth $112,016,033. Corporate insiders own 0.55% of the company’s stock.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman highlights that the current energy supply shock should spur investment in grid infrastructure and storage — a potential source of advisory, underwriting and asset-management fees for GS. Current energy supply shock will drive investment into grid infrastructure and storage solutions: GS
• Positive Sentiment: Several pieces note GS is deeply oversold technically and that analysts remain constructive (recent price-targets above current levels), which could support a relief rally if markets stabilize or capital-markets activity picks up. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Neutral Sentiment: Governance update — board member Lakshmi Mittal announced retirement. Routine board turnover can be relevant for long-term governance but is unlikely to drive immediate price action. Goldman Sachs Announces Retirement of Board Member Mittal
• Neutral Sentiment: Goldman trimmed a derivative-based stake in Siemens Energy to just under 5% — a portfolio move that signals repositioning but is not a major earnings driver for GS itself. Goldman Sachs Trims Derivative-Based Stake in Siemens Energy to Just Under 5%
• Negative Sentiment: Immediate sell pressure was linked to investor worries about the stability of the private credit market after a key bank announcement — contagion concerns in private markets tend to hit large universal banks and asset managers. Why Goldman Sachs (GS) Shares Are Sliding Today
• Negative Sentiment: Goldman’s elevated oil-price forecasts and widespread supply-shock commentary (Brent near $100+ forecasts and warning of much higher spikes) have helped push Treasury yields and a risk-off tone — that environment has weighed on financials and contributed to GS’s intraday weakness. Goldman Sachs forecasts oil at $100 a barrel for March
• Negative Sentiment: Macroeconomic outlook shifts — Goldman pushed back its Fed rate-cut timeline (now expecting cuts later in the year), which, together with oil-driven inflation risk, is keeping markets cautious and depressing risk assets including bank stocks. Goldman now sees first Fed rate cut in September, not June

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GS shares. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $971.00 to $1,000.00 and gave the company a “market perform” rating in a report on Friday, January 16th. Daiwa Securities Group raised their price target on The Goldman Sachs Group from $927.00 to $940.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. UBS Group restated a “neutral” rating and issued a $990.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, February 4th. Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a research note on Friday, January 16th. Finally, Jefferies Financial Group lifted their target price on The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus target price of $919.29.

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.