Bank of New York Mellon Corp Trims Holdings in The Goldman Sachs Group, Inc. $GS

Bank of New York Mellon Corp decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,632,139 shares of the investment management company’s stock after selling 325,881 shares during the period. Bank of New York Mellon Corp’s holdings in The Goldman Sachs Group were worth $2,226,764,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GS. Dagco Inc. purchased a new stake in The Goldman Sachs Group in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after acquiring an additional 23 shares during the period. Steph & Co. purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.1%

GS opened at $1,152.11 on Thursday. The stock has a 50-day moving average of $1,029.22 and a 200 day moving average of $943.28. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 2.83. The Goldman Sachs Group, Inc. has a 12 month low of $691.30 and a 12 month high of $1,153.99. The firm has a market cap of $339.88 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.46 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business posted $10.91 earnings per share. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $5.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio is 27.78%.

Analyst Ratings Changes

Several research firms have recently issued reports on GS. Weiss Ratings upgraded shares of The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a research report on Wednesday. CICC Research raised their target price on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. HSBC lifted their price target on shares of The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Finally, BNP Paribas Exane cut their price objective on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $1,049.52.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group 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 completion of the transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares in the company, valued at $30,248,198.50. This trade represents a 18.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs posted record Q2 results, with EPS of $20.98 and revenue of $20.34 billion, both well above estimates, which is the main reason the stock is rising. Reuters: Goldman’s profit jumps on trading surge, corporate deal spree
• Positive Sentiment: Trading was exceptional, with equities revenue hitting a new record as market volatility and active client positioning boosted results. CNBC: The AI boom just found two new winners: Goldman Sachs and JPMorgan Chase
• Positive Sentiment: Investment banking fees rose sharply as corporate dealmaking and underwriting picked up, suggesting a healthier pipeline ahead. Zacks: GS Q2 Earnings Call Highlights AI-Driven Deal & Trading Surge
• Positive Sentiment: Management highlighted AI-related infrastructure spending and financing demand as an additional tailwind, which supports the bullish narrative around future growth. PYMNTS: The Real Bank Earnings Story Was the AI Spending Boom
• Positive Sentiment: The company also raised its quarterly dividend by 11.1% to $5.00, a sign of confidence in capital strength and earnings durability. TipRanks: Goldman Sachs posts strong Q2 earnings and dividend hike
• Neutral Sentiment: Several analysts lifted price targets after the strong report, but some still warned that much of the good news may already be reflected in the stock’s recent run. Benzinga: Goldman Sachs Crushes Records, but This Analyst Warns the Party Is Over
• Negative Sentiment: Ongoing news around Kathryn Ruemmler’s Epstein-related testimony is a reputational overhang, though it appears secondary to the earnings-driven rally today. CNBC: Goldman Sachs’ Ruemmler to face House questioning on Jeffrey Epstein

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.