Cullen Frost Bankers Inc. Boosts Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Cullen Frost Bankers Inc. sharply increased its Goldman Sachs stake in the fourth quarter, boosting holdings by 3,498.5% to 9,320 shares valued at about $8.19 million.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 beating estimates and revenue of $17.23 billion topping expectations, while revenue rose 14.4% year over year.
• The company also raised its quarterly dividend to $4.50 per share and has received a mixed analyst outlook, including a higher target from CICC Research but an overall “Hold” consensus.

Cullen Frost Bankers Inc. grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3,498.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,320 shares of the investment management company's stock after purchasing an additional 9,061 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in The Goldman Sachs Group were worth $8,192,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Acropolis Investment Management LLC increased its holdings in shares of The Goldman Sachs Group by 1.8% during the 4th quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company's stock valued at $554,000 after purchasing an additional 11 shares in the last quarter. Walkner Condon Financial Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 2.0% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company's stock valued at $505,000 after purchasing an additional 11 shares in the last quarter. Optas LLC increased its holdings in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company's stock valued at $2,244,000 after purchasing an additional 11 shares in the last quarter. Pines Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company's stock valued at $2,255,000 after purchasing an additional 11 shares in the last quarter. Finally, Terra Nova Asset Management LLC increased its holdings in shares of The Goldman Sachs Group by 0.5% during the 4th quarter. Terra Nova Asset Management LLC now owns 2,650 shares of the investment management company's stock valued at $2,329,000 after purchasing an additional 12 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs reportedly won the lead left underwriting role for SpaceX’s expected IPO, a marquee assignment that could boost investment banking fees and reinforce the firm’s standing in high-profile capital markets deals. Article Title
• Positive Sentiment: Goldman also received a price target upgrade to $980 from CICC Research with an “outperform” rating, signaling continued analyst confidence in the stock. Article Title
• Positive Sentiment: Goldman’s recent macro and trading commentary has remained constructive, including a view that market volatility and AI-related themes can create opportunities for clients and the firm. Article Title
• Neutral Sentiment: Goldman has been shifting crypto exposure away from direct altcoin ETF holdings and toward infrastructure and trading platforms, which looks like a strategic repositioning rather than a direct earnings driver. Article Title
• Neutral Sentiment: Reports that CFO Denis Coleman sold shares are worth noting, but the transaction appears to be a partial sale and does not by itself change the long-term outlook. Article Title

The Goldman Sachs Group Trading Up 5.7%

Shares of GS opened at $981.97 on Thursday. The Goldman Sachs Group, Inc. has a 52-week low of $582.50 and a 52-week high of $984.70. 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 firm's fifty day moving average is $885.93 and its two-hundred day moving average is $882.40. The stock has a market cap of $289.69 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its 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 company had revenue of $17.23 billion for the quarter, compared to analysts' expectations of $16.66 billion. During the same quarter in the previous year, the company posted $14.12 EPS. The firm's quarterly 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 Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. CICC Research boosted their price target on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an "outperform" rating in a report on Tuesday. BNP Paribas Exane cut their price target on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Jefferies Financial Group cut their price target 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 report on Monday, April 6th. Bank of America cut their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Finally, HSBC boosted their price target on shares of The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $943.95.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 33,681 shares of company stock worth $31,737,875. Company insiders own 0.55% of the company's stock.

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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