Dodge & Cox Reduces Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Dodge & Cox trimmed its stake in The Goldman Sachs Group by 33.2% in Q3, selling 1,097,949 shares and ending the period with 2,208,625 shares worth about $1.759 billion (≈0.74% ownership).
• Significant insider selling occurred recently — insiders have sold 117,283 shares worth $112.0 million over the last 90 days, including sales by EVP John F.W. Rogers and Kathryn H. Ruemmler, leaving insiders with roughly 0.55% ownership.
• Goldman raised its quarterly dividend to $4.50 (annualized $18.00), implying a 2.3% yield and a payout ratio around 35%.

Dodge & Cox trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 33.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,208,625 shares of the investment management company's stock after selling 1,097,949 shares during the quarter. Dodge & Cox owned 0.74% of The Goldman Sachs Group worth $1,758,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Hartline Investment Corp boosted its position in shares of The Goldman Sachs Group by 153.3% during the third quarter. Hartline Investment Corp now owns 1,421 shares of the investment management company's stock valued at $1,132,000 after buying an additional 860 shares during the period. A4 Wealth Advisors LLC bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $940,000. Stevens Capital Management LP bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $1,392,000. Meridian Wealth Management LLC boosted its holdings in The Goldman Sachs Group by 39.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,332 shares of the investment management company's stock valued at $1,857,000 after acquiring an additional 659 shares during the period. Finally, AlTi Global Inc. grew its position in The Goldman Sachs Group by 87.3% in the 3rd quarter. AlTi Global Inc. now owns 29,770 shares of the investment management company's stock valued at $23,707,000 after acquiring an additional 13,879 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman highlights that the current energy supply shock should spur investment in grid infrastructure and storage — a potential source of advisory, underwriting and asset-management fees for GS. Current energy supply shock will drive investment into grid infrastructure and storage solutions: GS
• Positive Sentiment: Several pieces note GS is deeply oversold technically and that analysts remain constructive (recent price-targets above current levels), which could support a relief rally if markets stabilize or capital-markets activity picks up. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Neutral Sentiment: Governance update — board member Lakshmi Mittal announced retirement. Routine board turnover can be relevant for long-term governance but is unlikely to drive immediate price action. Goldman Sachs Announces Retirement of Board Member Mittal
• Neutral Sentiment: Goldman trimmed a derivative-based stake in Siemens Energy to just under 5% — a portfolio move that signals repositioning but is not a major earnings driver for GS itself. Goldman Sachs Trims Derivative-Based Stake in Siemens Energy to Just Under 5%
• Negative Sentiment: Immediate sell pressure was linked to investor worries about the stability of the private credit market after a key bank announcement — contagion concerns in private markets tend to hit large universal banks and asset managers. Why Goldman Sachs (GS) Shares Are Sliding Today
• Negative Sentiment: Goldman’s elevated oil-price forecasts and widespread supply-shock commentary (Brent near $100+ forecasts and warning of much higher spikes) have helped push Treasury yields and a risk-off tone — that environment has weighed on financials and contributed to GS’s intraday weakness. Goldman Sachs forecasts oil at $100 a barrel for March
• Negative Sentiment: Macroeconomic outlook shifts — Goldman pushed back its Fed rate-cut timeline (now expecting cuts later in the year), which, together with oil-driven inflation risk, is keeping markets cautious and depressing risk assets including bank stocks. Goldman now sees first Fed rate cut in September, not June

Insider Activity

In related news, EVP John F.W. Rogers sold 13,151 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $959.03, for a total transaction of $12,612,203.53. Following the completion of the sale, the executive vice president owned 39,007 shares of the company's stock, valued at $37,408,883.21. This represents a 25.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kathryn H. Ruemmler sold 9,589 shares of the firm's stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the completion of the sale, the insider owned 18,533 shares of the company's stock, valued at approximately $17,189,542.83. This trade represents a 34.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 117,283 shares of company stock worth $112,016,033 over the last 90 days. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets increased their target price on The Goldman Sachs Group from $980.00 to $985.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $815.00 to $826.00 and gave the stock a "neutral" rating in a report on Tuesday. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 19th. Jefferies Financial Group boosted their price objective on shares of The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. Finally, Daiwa Securities Group upped their target price on shares of The Goldman Sachs Group from $927.00 to $940.00 and gave the stock a "neutral" rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $919.29.

The Goldman Sachs Group Trading Down 0.7%

Shares of NYSE GS opened at $781.99 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $984.70. The business has a fifty day moving average price of $910.83 and a 200 day moving average price of $843.02. The stock has a market capitalization of $232.06 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.66 and a quick ratio of 0.66.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $2.03. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.72% and a net margin of 13.73%.The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.95 earnings per share. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $4.00. The Goldman Sachs Group's payout ratio is presently 35.09%.

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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