Fisher Asset Management LLC Has $5.95 Billion Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Fisher Asset Management increased its Goldman Sachs stake by 1.7% in the fourth quarter, bringing its holdings to 6.77 million shares worth about $5.95 billion. Goldman now ranks as Fisher’s 8th-largest holding and makes up about 2.0% of its portfolio.
• Goldman Sachs continues to attract major institutional backing, with firms like Vanguard, Invesco, and Wellington also boosting positions. Institutional investors now own 71.21% of the company’s stock.
• The stock has recently been supported by strong earnings and a new quarterly dividend of $4.50 per share, but analysts remain cautious overall. Goldman beat Q1 EPS and revenue estimates, yet the consensus rating stays at Hold with an average price target of $943.95.

Fisher Asset Management LLC lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,771,556 shares of the investment management company's stock after acquiring an additional 110,134 shares during the period. The Goldman Sachs Group accounts for approximately 2.0% of Fisher Asset Management LLC's holdings, making the stock its 8th biggest holding. Fisher Asset Management LLC owned 2.26% of The Goldman Sachs Group worth $5,952,199,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of The Goldman Sachs Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock valued at $25,503,685,000 after acquiring an additional 418,820 shares during the last quarter. Invesco Ltd. raised its position in The Goldman Sachs Group by 3.5% in the 3rd quarter. Invesco Ltd. now owns 2,913,172 shares of the investment management company's stock worth $2,319,905,000 after purchasing an additional 97,387 shares during the period. Legal & General Group Plc raised its position in The Goldman Sachs Group by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 2,110,119 shares of the investment management company's stock worth $1,680,393,000 after purchasing an additional 28,642 shares during the period. Wellington Management Group LLP raised its position in The Goldman Sachs Group by 110.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company's stock worth $1,417,997,000 after purchasing an additional 936,015 shares during the period. Finally, Bank of Montreal Can raised its position in The Goldman Sachs Group by 9.4% in the 3rd quarter. Bank of Montreal Can now owns 1,410,511 shares of the investment management company's stock worth $1,123,260,000 after purchasing an additional 121,522 shares during the period. Institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BNP Paribas Exane reduced 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 report on Friday, April 24th. Wells Fargo & Company reduced their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating on the stock in a research report on Monday, April 13th. Weiss Ratings lowered shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Finally, Rothschild & Co Redburn increased their price objective on shares of The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a "neutral" rating in a research report on Friday, April 17th. Nine analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $943.95.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs was selected as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $996.73 on Monday. The firm has a market cap of $294.04 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. The firm's 50 day simple moving average is $892.51 and its 200-day simple moving average is $885.29. The Goldman Sachs Group, Inc. has a one year low of $582.50 and a one year high of $1,005.36. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping analysts' consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $14.12 earnings per share. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 directly owned 31,070 shares of the company's stock, valued at $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares in the company, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Company 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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