Connor Clark & Lunn Investment Management Ltd. Cuts Stock Position in The Goldman Sachs Group, Inc. $GS

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 33.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,897 shares of the investment management company’s stock after selling 33,070 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Goldman Sachs Group were worth $67,658,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Audent Global Asset Management LLC grew its stake in The Goldman Sachs Group by 10.1% during the fourth quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after acquiring an additional 479 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $53,720,000. Oak Grove Capital LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $1,890,000. Nomura Asset Management Co. Ltd. raised its position in shares of The Goldman Sachs Group by 2.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company’s stock valued at $124,809,000 after buying an additional 3,653 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 35.0% in the 4th quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company’s stock valued at $10,499,000 after acquiring an additional 3,098 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman’s involvement with potential future IPOs, including beverage brand Liquid Death, could support investment-banking revenue if the company proceeds with a public offering. However, Liquid Death’s CEO did not provide a timeline. Liquid Death CEO Dodges IPO Question Despite Goldman Sachs Ties
• Positive Sentiment: Goldman research highlighting stronger-than-reported Chinese gold demand and renewed expectations for Chinese economic easing could benefit the firm’s commodities, markets and advisory activity if trading and capital flows increase. China Gold Buying Far Exceeds Official PBOC Reports, Goldman Sachs Data Shows
• Neutral Sentiment: Goldman executive Chris Churchman warned that excessive reliance on AI could cause “cognitive atrophy” among junior bankers. The comments emphasize the need to preserve Goldman’s apprenticeship model while using AI, but do not indicate a change to earnings or strategy. Goldman Sachs partner warns of huge danger in letting AI replace bankers’ reasoning skills
• Neutral Sentiment: Articles comparing GS with finance peers and discussing Goldman’s stock performance provide market context but no new fundamental catalyst. Is The Goldman Sachs Group Stock Outpacing Its Finance Peers This Year?
• Negative Sentiment: Mark Walter’s TWG Global hired a former Goldman executive as its top lawyer while federal authorities investigate how two TWG-linked insurers classified more than $20 billion in loans. Although Goldman is not identified as the investigation’s target, the connection may create reputational and headline risk. Mark Walter’s TWG Global hires Goldman veteran Markowitz as top lawyer amid probe of insurers

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings upgraded The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Bank of America upped their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Citigroup boosted their target price on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,062.86.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $1,036.86 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group, Inc. has a 12 month low of $721.16 and a 12 month high of $1,153.99. The company has a market capitalization of $301.90 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.05 and a beta of 1.30. The firm’s 50-day moving average is $1,053.15 and its 200 day moving average is $965.21.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter last year, the firm earned $10.91 earnings per share. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

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

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.