CrossGen Wealth LLC Takes Position in The Goldman Sachs Group, Inc. $GS

CrossGen Wealth LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,098 shares of the investment management company's stock, valued at approximately $3,602,000. The Goldman Sachs Group makes up 3.2% of CrossGen Wealth LLC's portfolio, making the stock its 9th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in The Goldman Sachs Group in the fourth quarter worth about $2,515,830,000. Wellington Management Group LLP boosted its position in The Goldman Sachs Group by 110.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company's stock valued at $1,417,997,000 after acquiring an additional 936,015 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of The Goldman Sachs Group by 428.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company's stock worth $488,947,000 after acquiring an additional 450,984 shares during the period. Vanguard Group Inc. grew its holdings in shares of The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock worth $25,503,685,000 after acquiring an additional 418,820 shares during the period. Finally, State Street Corp raised its position in shares of The Goldman Sachs Group by 2.1% in 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 acquiring an additional 394,198 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Price Performance

NYSE GS opened at $1,099.46 on Friday. The Goldman Sachs Group, Inc. has a one year low of $630.01 and a one year high of $1,125.00. The stock has a 50-day moving average of $975.46 and a 200 day moving average of $918.48. The company has a market capitalization of $324.35 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.41 and a beta of 1.30. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analysts' expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $14.12 EPS. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group's payout ratio is presently 32.89%.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs crossed $1 trillion in M&A advisory volume year to date, the fastest pace ever for a bank, which points to a strong pipeline for investment banking and advisory fee growth. Goldman Tops $1 Trillion in M&A Deals, Fastest to Reach the Mark
• Positive Sentiment: That dealmaking milestone suggests Goldman Sachs could benefit from a broader rebound in capital markets activity and stronger fee income in coming quarters. GS Crosses $1T in M&A Deals: Catalyst for Advisory Fee Growth?
• Neutral Sentiment: Former Goldman Sachs executive Rob Kaplan said the Federal Reserve may need to raise rates as soon as September if inflation stays elevated, reinforcing expectations for a more hawkish rate backdrop that could influence bank trading and markets activity. Goldman’s Kaplan Says Fed May Need to Hike as Soon as September
• Neutral Sentiment: Goldman also warned that Big Tech’s massive AI spending could pressure returns on equity, a broader market view that may matter more for client sentiment than for GS’s own earnings. Goldman Sachs Warns Big Tech's $770 Billion AI Spending Frenzy Could Backfire— Here's Why
• Negative Sentiment: Bank stocks may face pressure if regulators tighten Basel capital rules, since banks are pushing for more relief amid concerns that tougher market-risk requirements could curb Treasury liquidity and raise trading capital needs. Banks Push for More Basel Relief Amid Treasury Liquidity Fears

Analysts Set New Price Targets

Several brokerages have commented on GS. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $826.00 to $900.00 and gave the company a "neutral" rating in a research report on Friday, June 12th. Evercore reduced their price objective on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. HSBC lifted their target price on shares of The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. BMO Capital Markets increased their price target on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a report on Monday, April 20th. Finally, Wells Fargo & Company reduced their price target on shares of The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating for the company in a research report on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $941.82.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, 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 completion of the sale, the chief financial officer owned 31,070 shares of the company's stock, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the sale, the insider owned 2,578 shares of the company's stock, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,681 shares of company stock worth $31,737,875 in the last three months. 0.55% of the stock is currently owned by company insiders.

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.

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