Elevation Point Wealth Partners LLC Buys 1,388 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Elevation Point Wealth Partners LLC boosted its stake in The Goldman Sachs Group by 25.8%, purchasing 1,388 shares to hold 6,774 shares valued at about $5.39 million per the latest 13F filing.
• Goldman Sachs beat quarterly estimates with $13.55 EPS (vs. $11.52 consensus) and raised its quarterly dividend to $4.50 ($18.00 annualized), a yield of about 2.3%.
• Analyst views are mixed — MarketBeat shows a consensus rating of Hold with a $919.29 price target amid several recent target increases — and insiders have sold roughly 117,283 shares (≈$112 million) in the past 90 days.

Elevation Point Wealth Partners LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 25.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,774 shares of the investment management company's stock after purchasing an additional 1,388 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in The Goldman Sachs Group were worth $5,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GS. Harbor Capital Advisors Inc. purchased a new stake in The Goldman Sachs Group during the third quarter valued at approximately $26,000. First PREMIER Bank acquired a new position in shares of The Goldman Sachs Group during the third quarter worth $28,000. Corundum Trust Company INC purchased a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at $29,000. Elevation Wealth Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 100.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company's stock valued at $32,000 after purchasing an additional 20 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $31,000. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GS shares. 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 report on Tuesday, January 6th. Autonomous Res lowered their target price on The Goldman Sachs Group from $1,047.00 to $960.00 and set an "outperform" rating on the stock in a research note on Thursday, January 15th. Weiss Ratings reiterated a "hold (c+)" rating on shares of The Goldman Sachs Group in a research report on Monday, December 22nd. Rothschild & Co Redburn lifted their target price on shares of The Goldman Sachs Group from $608.00 to $748.00 and gave the company a "neutral" rating in a report on Friday, December 12th. Finally, Barclays raised their price target on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the company an "overweight" rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $919.29.

More The Goldman Sachs Group News

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

The Goldman Sachs Group Price Performance

Shares of GS opened at $781.99 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $984.70. The firm's 50 day moving average price is $910.83 and its 200 day moving average price is $843.68. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.60. The company has a market cap of $232.06 billion, a P/E ratio of 15.25, a PEG ratio of 0.96 and a beta of 1.34.

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 EPS for the quarter, beating the consensus estimate of $11.52 by $2.03. The Goldman Sachs Group had a return on equity of 15.72% and a net margin of 13.73%.The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the prior year, the company posted $11.95 earnings per share. The Goldman Sachs Group's revenue for the quarter was down 3.0% compared to the same quarter last year. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

Insider Activity at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 9,589 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $927.51, for a total value of $8,893,893.39. Following the sale, the insider directly owned 18,533 shares in the company, valued at $17,189,542.83. This represents a 34.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 4,863 shares of the firm's stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $923.75, for a total value of $4,492,196.25. Following the transaction, the chief accounting officer directly owned 10,301 shares of the company's stock, valued at $9,515,548.75. The trade was a 32.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 117,283 shares of company stock valued at $112,016,033 in the last ninety days. 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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.