Dai ichi Life Insurance Company Ltd Reduces Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Dai ichi Life Insurance cut its stake in Goldman Sachs by 9.4% in the first quarter, selling 2,930 shares and leaving it with 28,350 shares valued at about $23.98 million.
• Goldman Sachs posted a strong Q2 earnings beat, reporting $20.98 EPS versus $14.47 expected and revenue of $20.34 billion versus $16.22 billion expected, with revenue up 39.4% year over year.
• The company also raised its quarterly dividend to $5.00 per share from $4.50, while analysts currently rate the stock a consensus Hold with an average target price of $1,061.43.

Dai ichi Life Insurance Company Ltd trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 28,350 shares of the investment management company's stock after selling 2,930 shares during the quarter. The Goldman Sachs Group comprises approximately 0.7% of Dai ichi Life Insurance Company Ltd's portfolio, making the stock its 29th biggest position. Dai ichi Life Insurance Company Ltd's holdings in The Goldman Sachs Group were worth $23,984,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in The Goldman Sachs Group in the first quarter worth approximately $8,527,000. Bollard Group LLC raised its stake in The Goldman Sachs Group by 0.5% during the 1st quarter. Bollard Group LLC now owns 11,768 shares of the investment management company's stock valued at $9,955,000 after buying an additional 63 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of The Goldman Sachs Group by 1.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 123,608 shares of the investment management company's stock valued at $104,571,000 after buying an additional 1,625 shares during the period. Klingman & Associates LLC boosted its stake in shares of The Goldman Sachs Group by 6.6% in the 1st quarter. Klingman & Associates LLC now owns 1,454 shares of the investment management company's stock worth $1,230,000 after buying an additional 90 shares during the last quarter. Finally, Modern Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 18.4% in the 1st quarter. Modern Wealth Management LLC now owns 1,419 shares of the investment management company's stock worth $1,220,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GS shares. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Weiss Ratings cut The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Daiwa Securities Group boosted their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Evercore reaffirmed an "outperform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Finally, BNP Paribas Exane lowered their price objective on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and an average target price of $1,061.43.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $1,059.81 on Friday. The Goldman Sachs Group, Inc. has a one year low of $694.05 and a one year high of $1,153.99. The stock's fifty day moving average is $1,047.33 and its 200 day moving average is $951.92. The stock has a market cap of $312.65 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.09 and a beta of 1.30. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.63 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate of $14.47 by $6.51. The company 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 Goldman Sachs Group's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $10.91 earnings per share. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 68.83 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group's dividend payout ratio is presently 30.87%.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs was highlighted on a momentum screen using the Driehaus strategy, with strong earnings and favorable price trends supporting the stock’s bullish setup. 3 High-Momentum Stocks to Buy Now Before They Surge
• Positive Sentiment: Investors are reacting to follow-up coverage on Goldman Sachs’ blowout Q2 results, with articles pointing to continued earnings momentum and the potential for further upside after the record quarter. What's next for Goldman Sachs after its blowout Q2 earnings?
• Positive Sentiment: Goldman Sachs is expanding into private markets for wealthy clients, including access to pre-IPO opportunities, which could open a new revenue stream and strengthen its wealth-management franchise. Goldman Sachs Wants Its Wealthy Clients in on the Next SpaceX Before It Goes Public
• Positive Sentiment: Goldman Sachs’ CEO also backed the Senate’s CLARITY Act on crypto market structure, signaling support for clearer rules that could benefit its digital-asset and trading businesses over time. Goldman Sachs CEO backs ‘not perfect’ CLARITY Act as vote expected soon
• Neutral Sentiment: Goldman Sachs also appeared in several analyst and market commentary pieces calling it a strong momentum or long-term stock, reinforcing positive sentiment but without adding new hard catalysts. Goldman Sachs (GS) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: Macro headlines about rising oil, inflation concerns, and a stronger dollar may be creating some offsetting caution for the broader market, though these are not Goldman-specific negatives. Global Inflation Angst Is Back With $100 Oil and More Tariffs

Insider Buying and Selling

In related news, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer directly owned 6,338 shares of the company's stock, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the firm's stock in a transaction that occurred on 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 owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 31,450 shares of company stock valued at $29,668,201. 0.55% of the stock is owned by corporate 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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