The Goldman Sachs Group, Inc. $GS Shares Sold by NBT Bank N A NY

NBT Bank N A NY lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 13.3% in the first quarter, HoldingsChannel.com reports. The firm owned 9,886 shares of the investment management company’s stock after selling 1,510 shares during the period. NBT Bank N A NY’s holdings in The Goldman Sachs Group were worth $8,363,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in The Goldman Sachs Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after purchasing an additional 418,820 shares in the last quarter. State Street Corp boosted its position in shares of The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after buying an additional 394,198 shares during the period. Fisher Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock valued at $5,952,199,000 after buying an additional 110,134 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after buying an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of The Goldman Sachs Group by 3.4% in the 4th quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock valued at $5,254,692,000 after buying an additional 194,109 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.1%

NYSE:GS opened at $1,022.00 on Friday. The firm has a market cap of $301.50 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.32 and a beta of 1.30. The stock has a fifty day moving average price of $1,005.83 and a 200 day moving average price of $932.87. The Goldman Sachs Group, Inc. has a 12-month low of $691.30 and a 12-month high of $1,125.00. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping the consensus estimate of $15.92 by $1.63. The company had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The Goldman Sachs Group’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $14.12 EPS. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs’ private credit fund reportedly continued to avoid meaningful redemption pressure, which supports confidence in one of the firm’s growing asset-management businesses. Redemption Pressures Remain Low at This Goldman Private Credit Fund
• Positive Sentiment: Goldman’s economists said AI could displace about 9% of the U.S. workforce, reinforcing the bank’s visibility on a major macro trend and keeping Goldman in the middle of market conversation. AI Will Displace 9% of the U.S. Workforce, Warns Goldman Economist
• Positive Sentiment: Goldman’s top strategist said investors are rotating within equities, with Europe and non-mega-cap areas holding up well, suggesting the firm remains influential on current portfolio positioning. Goldman’s Top Strategist Says Europe Is Quietly Keeping Pace With the S&P 500
• Neutral Sentiment: Goldman disclosed a derivative-based 2.9% stake and a 3.65% voting interest in Qiagen, but this appears to be a portfolio disclosure rather than a direct catalyst for GS shares. Goldman Sachs reports 2.9% stake in Qiagen via derivatives
• Neutral Sentiment: Financial stocks were broadly higher in late trading, which likely provided a sector tailwind for Goldman Sachs rather than a company-specific move. Sector Update: Financial Stocks Advance Late Afternoon

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GS shares. Citigroup increased their target price on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Evercore cut 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 research note on Monday, April 6th. CICC Research increased their price target on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Finally, Jefferies Financial Group lowered their price objective on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $974.18.

Insider Activity

In related news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the transaction, the insider owned 2,578 shares of the company’s stock, valued at $2,413,472.04. This trade 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 33,681 shares of company stock valued at $31,737,875 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

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.