Empirical Asset Management LLC Decreases Stake in The Goldman Sachs Group, Inc. $GS

Empirical Asset Management LLC reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,298 shares of the investment management company’s stock after selling 823 shares during the period. Empirical Asset Management LLC’s holdings in The Goldman Sachs Group were worth $3,778,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GS. Brighton Jones LLC increased its stake in The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC grew its position in shares of The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after buying an additional 58 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of The Goldman Sachs Group by 90.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company’s stock worth $1,098,000 after buying an additional 735 shares during the last quarter. Schnieders Capital Management LLC. grew its position in shares of The Goldman Sachs Group by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock worth $581,000 after buying an additional 70 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of The Goldman Sachs Group by 22.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock worth $1,522,000 after buying an additional 391 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs is reportedly set to lead SpaceX’s IPO, a potentially record-setting deal that could bring in significant underwriting fees and boost Goldman’s investment-banking outlook. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal
• Positive Sentiment: Media coverage around Goldman’s role in the SpaceX IPO and commentary that the firm “hit the jackpot” is likely supporting sentiment and highlighting Goldman’s ability to win marquee mandates. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Goldman was also mentioned as a top trade idea on CNBC and in bullish analyst/investing coverage, which can reinforce the stock’s momentum after its strong run. Nvidia, Alphabet, Delta Air And A Financial Stock On CNBC’s ‘Final Trades’
• Neutral Sentiment: Goldman’s own research on oil drawdowns, Iran peace progress, and broader market volatility may affect trading and commodities views, but these items are more market commentary than direct company-specific news. Goldman Says Oil Drawdowns Hit Record Pace as Buffer Shrinks
• Neutral Sentiment: Reports that Goldman is trimming some crypto exposure while backing infrastructure and AI bond-trading platforms suggest an evolving strategy, but the stock impact is likely limited in the near term. Goldman Sachs Backs Crypto Infrastructure And AI Bond Trading Platforms
• Negative Sentiment: Goldman agreed to pay $500 million to settle a shareholder lawsuit tied to the 1MDB scandal, a reminder of legal overhangs that could weigh on sentiment even if the financial hit is manageable. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GS. HSBC lifted their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research report on Monday, May 4th. Wells Fargo & Company cut their price objective on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Monday, April 13th. Bank of America cut 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 research report on Tuesday, April 14th. Rothschild & Co Redburn lifted their price objective 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. Finally, Citigroup lifted their price objective on The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $943.95.

Insider Transactions at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the sale, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the sale, the chief financial officer owned 31,070 shares in the company, valued at $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,681 shares of company stock valued at $31,737,875. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Up 0.7%

NYSE GS opened at $988.52 on Friday. 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 Goldman Sachs Group, Inc. has a twelve month low of $582.50 and a twelve month high of $999.50. The firm has a market capitalization of $291.62 billion, a PE ratio of 18.07, a P/E/G ratio of 1.27 and a beta of 1.28. The stock’s 50 day moving average is $889.04 and its 200 day moving average is $883.81.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $16.66 billion. During the same period in the previous year, the company posted $14.12 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. Research analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

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.