CrossGen Wealth LLC Invests $3.60 Million in The Goldman Sachs Group, Inc. $GS

CrossGen Wealth LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, Holdings Channel reports. The fund acquired 4,098 shares of the investment management company’s stock, valued at approximately $3,602,000. The Goldman Sachs Group accounts for 3.2% of CrossGen Wealth LLC’s portfolio, making the stock its 9th largest holding.

Other hedge funds also recently bought and sold shares of the company. First Commonwealth Financial Corp PA boosted its stake in The Goldman Sachs Group by 4.9% in the 4th quarter. First Commonwealth Financial Corp PA now owns 2,796 shares of the investment management company’s stock worth $2,458,000 after purchasing an additional 131 shares during the period. Blue Sparrow LLC DE bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $228,069,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of The Goldman Sachs Group by 1.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 63,318 shares of the investment management company’s stock worth $55,979,000 after buying an additional 1,024 shares in the last quarter. Summit Global Investments purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth $1,200,000. Finally, Raymond James Financial Inc. boosted its position in shares of The Goldman Sachs Group by 0.5% during the fourth quarter. Raymond James Financial Inc. now owns 940,940 shares of the investment management company’s stock worth $828,184,000 after acquiring an additional 4,825 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Evercore reduced their price target on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $930.00 to $940.00 in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Morgan Stanley set a $900.00 target price on The Goldman Sachs Group in a research report on Friday, June 12th. Finally, HSBC increased their price target on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $941.82.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $1,099.46 on Friday. The company’s 50-day moving average price is $975.46 and its 200-day moving average price is $918.48. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The company has a market cap of $324.35 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.41 and a beta of 1.30. The Goldman Sachs Group, Inc. has a twelve month low of $630.01 and a twelve month high of $1,125.00.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results 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 return on equity of 16.53% and a net margin of 14.13%.The company had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same quarter last year, the business posted $14.12 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is presently 32.89%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the transaction, the chief accounting officer owned 6,338 shares in the company, valued at $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. This trade represents a 18.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,681 shares of company stock valued at $31,737,875 in the last three months. Corporate insiders own 0.55% 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 crossed $1 trillion in M&A advisory volume year to date, the fastest pace ever for a bank, which points to a strong pipeline for investment banking and advisory fee growth. Goldman Tops $1 Trillion in M&A Deals, Fastest to Reach the Mark
• Positive Sentiment: That dealmaking milestone suggests Goldman Sachs could benefit from a broader rebound in capital markets activity and stronger fee income in coming quarters. GS Crosses $1T in M&A Deals: Catalyst for Advisory Fee Growth?
• Neutral Sentiment: Former Goldman Sachs executive Rob Kaplan said the Federal Reserve may need to raise rates as soon as September if inflation stays elevated, reinforcing expectations for a more hawkish rate backdrop that could influence bank trading and markets activity. Goldman’s Kaplan Says Fed May Need to Hike as Soon as September
• Neutral Sentiment: Goldman also warned that Big Tech’s massive AI spending could pressure returns on equity, a broader market view that may matter more for client sentiment than for GS’s own earnings. Goldman Sachs Warns Big Tech’s $770 Billion AI Spending Frenzy Could Backfire— Here’s Why
• Negative Sentiment: Bank stocks may face pressure if regulators tighten Basel capital rules, since banks are pushing for more relief amid concerns that tougher market-risk requirements could curb Treasury liquidity and raise trading capital needs. Banks Push for More Basel Relief Amid Treasury Liquidity Fears

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.