CoreCap Advisors LLC Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• CoreCap Advisors cut its Goldman Sachs stake by 55.8% in the second quarter, selling 1,959 shares and retaining 1,551 shares valued at approximately $1.57 million. Institutional investors still own 71.21% of the company.
• Goldman Sachs reported a strong quarter, with EPS of $20.98 and revenue of $20.34 billion, substantially exceeding analyst estimates; revenue increased 39.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,062.86.
• The stock opened at $1,032.86 after declining 2.6%, while Goldman increased its quarterly dividend to $5.00 per share, or $20.00 annualized, representing a 1.9% yield.

CoreCap Advisors LLC reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 55.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,551 shares of the investment management company's stock after selling 1,959 shares during the period. CoreCap Advisors LLC's holdings in The Goldman Sachs Group were worth $1,568,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of The Goldman Sachs Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock valued at $25,503,685,000 after purchasing an additional 418,820 shares in the last quarter. State Street Corp lifted its stake 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 lifted its stake in shares of The Goldman Sachs Group by 1.7% during the 4th 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 during the last quarter. Geode Capital Management LLC raised its holdings in The Goldman Sachs Group by 0.7% in 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 lifted its position in shares of The Goldman Sachs Group by 8.0% during 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. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Ratings Changes

GS has been the subject of several recent analyst reports. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Rothschild & Co Redburn raised their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Royal Bank Of Canada reaffirmed a "neutral" rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded The Goldman Sachs Group from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.86.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: HSBC upgraded GS to “strong buy” from “hold,” adding to the bullish analyst view following Goldman’s strong quarterly results. The bank recently reported earnings and revenue well above consensus expectations, with revenue up 39.4% year over year.
• Positive Sentiment: Goldman continues to benefit from robust capital-markets activity. The firm was a joint book-running manager on Braveheart Bio’s upsized $382.5 million IPO and is involved in other recent equity offerings, including Attovia Therapeutics and Twist Bioscience. A healthy IPO pipeline could support underwriting fees and investment-banking revenue. Braveheart Bio IPO article
• Positive Sentiment: Asset-management momentum is another favorable signal. A Goldman covered-call ETF reportedly has delivered higher yields and stronger performance than the popular JEPI fund, potentially aiding inflows and strengthening the firm’s ETF franchise. Goldman ETF comparison article
• Neutral Sentiment: Goldman CEO David Solomon highlighted artificial intelligence and workforce adaptation in a town hall with interns, while cautioning employees to challenge AI-generated answers. The comments reinforce Goldman’s technology focus but do not represent a material earnings update. Fortune CEO interview
• Negative Sentiment: Broad market weakness likely outweighed the favorable company news. The Dow and Nasdaq both ended lower, creating a risk-off backdrop for financial stocks. GS has also more than doubled from its earlier lows, which may encourage profit-taking after its strong run. Goldman Sachs rally article

The Goldman Sachs Group Trading Down 2.6%

Shares of NYSE:GS opened at $1,032.86 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group, Inc. has a 52-week low of $705.55 and a 52-week high of $1,153.99. The stock has a market cap of $300.74 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.07 and a beta of 1.30. The business has a 50-day moving average price of $1,056.28 and a 200-day moving average price of $957.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts' consensus estimates of $14.47 by $6.51. The firm had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The Goldman Sachs Group's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.91 earnings per share. Equities analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a $5.00 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend 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 (DPR) is presently 27.78%.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, the chief financial officer directly owned 31,070 shares in the company, valued at $30,248,198.50. This trade represents a 18.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group 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.

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