Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys 1,720 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Fideuram Intesa Sanpaolo Private Banking increased its stake in Goldman Sachs by 67.8% in the first quarter, buying 1,720 additional shares to bring its total to 4,256 shares valued at about $3.6 million.
• Goldman Sachs reported strong first-quarter results, with earnings of $17.55 per share and revenue of $17.23 billion, both ahead of analyst expectations. Revenue rose 14.4% year over year.
• Wall Street remains mixed on the stock: analysts rate Goldman Sachs a consensus “Hold” with an average price target of $974.18, even as several firms recently raised their targets.

Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 67.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,256 shares of the investment management company's stock after purchasing an additional 1,720 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in The Goldman Sachs Group were worth $3,601,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Audent Global Asset Management LLC grew its stake in The Goldman Sachs Group by 10.1% during the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock valued at $4,604,000 after acquiring an additional 479 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in The Goldman Sachs Group by 3.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 215,482 shares of the investment management company's stock worth $189,409,000 after purchasing an additional 8,154 shares in the last quarter. Rathbones Group PLC boosted its holdings in shares of The Goldman Sachs Group by 12.6% during the 3rd quarter. Rathbones Group PLC now owns 276,364 shares of the investment management company's stock worth $220,082,000 after purchasing an additional 30,825 shares during the last quarter. Oak Grove Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $1,890,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of The Goldman Sachs Group by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company's stock valued at $124,809,000 after purchasing an additional 3,653 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of analyst reports. Bank of America reduced their price objective on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. BMO Capital Markets raised their target price on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the stock a "market perform" rating in a research note on Monday, June 29th. Dbs Bank lifted their price target on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. UBS Group boosted their price target on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $974.18.

The Goldman Sachs Group Trading Up 0.1%

GS opened at $1,022.00 on Friday. The Goldman Sachs Group, Inc. has a 52 week low of $691.30 and a 52 week high of $1,125.00. The business has a fifty day simple moving average of $1,005.83 and a 200-day simple moving average of $932.87. The firm has a market cap of $301.50 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.32 and a beta of 1.30. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts' consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company had revenue of $17.23 billion during the quarter, compared to analysts' expectations of $16.66 billion. During the same period last year, the business posted $14.12 EPS. The Goldman Sachs Group's revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were given a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 1st. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 32.89%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction 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 owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs’ private credit fund reportedly continued to avoid meaningful redemption pressure, which supports confidence in one of the firm’s growing asset-management businesses. Redemption Pressures Remain Low at This Goldman Private Credit Fund
• Positive Sentiment: Goldman’s economists said AI could displace about 9% of the U.S. workforce, reinforcing the bank’s visibility on a major macro trend and keeping Goldman in the middle of market conversation. AI Will Displace 9% of the U.S. Workforce, Warns Goldman Economist
• Positive Sentiment: Goldman’s top strategist said investors are rotating within equities, with Europe and non-mega-cap areas holding up well, suggesting the firm remains influential on current portfolio positioning. Goldman’s Top Strategist Says Europe Is Quietly Keeping Pace With the S&P 500
• Neutral Sentiment: Goldman disclosed a derivative-based 2.9% stake and a 3.65% voting interest in Qiagen, but this appears to be a portfolio disclosure rather than a direct catalyst for GS shares. Goldman Sachs reports 2.9% stake in Qiagen via derivatives
• Neutral Sentiment: Financial stocks were broadly higher in late trading, which likely provided a sector tailwind for Goldman Sachs rather than a company-specific move. Sector Update: Financial Stocks Advance Late Afternoon

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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