2,474 Shares in The Goldman Sachs Group, Inc. $GS Purchased by Baer Investment Advisory LLC

Key Points

• Baer Investment Advisory LLC disclosed a new position in Goldman Sachs during the first quarter, buying 2,474 shares valued at about $2.09 million.
• Institutional ownership of Goldman Sachs remains high, with hedge funds and other institutional investors holding 71.21% of the stock.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 topping estimates and revenue rising 14.4% year over year; analysts currently rate the stock a consensus Hold with an average target price of $974.18.

Baer Investment Advisory LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,474 shares of the investment management company's stock, valued at approximately $2,093,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dagco Inc. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new position in The Goldman Sachs Group during the 4th quarter valued at $26,000. Manning & Napier Advisors LLC boosted its holdings in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after purchasing an additional 23 shares during the period. Steph & Co. bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $27,000. Finally, Lifetime Wealth Management P.C. acquired a new stake in The Goldman Sachs Group in the 4th quarter worth $29,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GS shares. Jefferies Financial Group cut 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 report on Monday, April 6th. Bank of America decreased their target price 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. UBS Group boosted their price target on The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. BMO Capital Markets upped their price target on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the company a "market perform" rating in a report on Monday, June 29th. Finally, Oppenheimer downgraded The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $974.18.

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of the firm's 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 completion of the sale, the chief financial officer owned 31,070 shares of the company's stock, valued at $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the business's 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 completion of the transaction, the insider owned 15,657 shares of the company's stock, valued at $14,703,018.99. This trade represents a 47.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,681 shares of company stock valued at $31,737,875 over the last three months. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $1,022.00 on Friday. The business's fifty day moving average is $1,005.83 and its two-hundred day moving average is $932.87. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $301.50 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.32 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52 week low of $691.30 and a 52 week high of $1,125.00.

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

The Goldman Sachs Group Dividend Announcement

The business also recently announced 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. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

Key Headlines Impacting The Goldman Sachs Group

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.