The Goldman Sachs Group, Inc. $GS Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 15.8% in the first quarter, Holdings Channel reports. The institutional investor owned 698,118 shares of the investment management company’s stock after purchasing an additional 95,210 shares during the period. California Public Employees Retirement System’s holdings in The Goldman Sachs Group were worth $590,601,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GS. Dagco Inc. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in The Goldman Sachs Group in the 4th quarter worth about $26,000. Manning & Napier Advisors LLC boosted its position in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Steph & Co. purchased a new position in The Goldman Sachs Group during the first quarter worth approximately $27,000. Finally, Lifetime Wealth Management P.C. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $1,066.28 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $1,035.20 and its 200-day simple moving average is $945.44. The company has a market cap of $314.56 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1-year low of $691.88 and a 1-year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The firm had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. During the same period in the previous year, the business earned $10.91 earnings per share. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 64.34 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group’s payout ratio is currently 27.78%.

The Goldman Sachs Group News Roundup

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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GS. BMO Capital Markets upped their target price on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a “market perform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an “overweight” rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1,061.43.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alex S. Golten sold 1,116 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the sale, the insider directly owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,566 shares of company stock worth $30,712,978 over the last three months. 0.55% of the stock is owned by corporate 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.