Axxcess Wealth Management LLC Grows Holdings in The Goldman Sachs Group, Inc. $GS

Axxcess Wealth Management LLC grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 140.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,927 shares of the investment management company’s stock after purchasing an additional 19,791 shares during the period. Axxcess Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $29,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Dagco Inc. acquired a new position in shares of The Goldman Sachs Group in the fourth quarter valued at about $25,000. Manning & Napier Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 287.5% in the fourth 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 last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth $31,000. Entrust Financial LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth $34,000. Finally, Graney & King LLC boosted its position in shares of The Goldman Sachs Group by 51.5% during the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after buying an additional 17 shares during the period. 71.21% of the stock is currently owned by hedge funds and other 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 was selected as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This represents a 61.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, May 6th. The stock was 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 owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This trade 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. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GS shares. Morgan Stanley decreased their target price on The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. BNP Paribas Exane dropped their price objective on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Bank of America dropped their price objective on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Jefferies Financial Group dropped their price objective on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Rothschild & Co Redburn lifted their target price on The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Nine investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and an average target price of $943.95.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $996.73 on Friday. The company has a market capitalization of $294.04 billion, a P/E ratio of 18.22, a PEG ratio of 1.27 and a beta of 1.28. 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 Goldman Sachs Group, Inc. has a 1-year low of $582.50 and a 1-year high of $1,005.36. The business has a 50 day moving average price of $892.51 and a 200 day moving average price of $884.59.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate 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 business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same period in the previous year, the firm earned $14.12 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

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.