The Goldman Sachs Group, Inc. $GS Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 16.8% during the second quarter, Holdings Channel reports. The institutional investor owned 186,608 shares of the investment management company’s stock after selling 37,699 shares during the quarter. Cibc World Market Inc.’s holdings in The Goldman Sachs Group were worth $188,729,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at $24,172,123,000. State Street Corp lifted its position in shares of The Goldman Sachs Group by 2.1% during the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after purchasing an additional 394,198 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after purchasing 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% during the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock worth $5,896,795,000 after purchasing an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in The Goldman Sachs Group by 8.0% in the first quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock valued at $5,460,875,000 after buying an additional 476,977 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,036.86 on Tuesday. The stock’s 50-day moving average is $1,053.15 and its two-hundred day moving average is $965.21. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The Goldman Sachs Group, Inc. has a 1 year low of $721.16 and a 1 year high of $1,153.99. The firm has a market cap 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 Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the business earned $10.91 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Oppenheimer downgraded The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Wall Street Zen lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Morgan Stanley set a $1,145.00 price objective on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $1,062.86.

The Goldman Sachs Group News Roundup

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

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.