Gabelli Funds LLC Reduces Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Gabelli Funds cut its Goldman Sachs position by 10.2% in the second quarter, selling 4,550 shares and retaining 39,960 shares valued at approximately $40.4 million. Hedge funds and institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported strong quarterly results, with EPS of $20.98 beating estimates of $14.47 and revenue rising 39.4% year over year to $20.34 billion. The company also increased its quarterly dividend from $4.50 to $5.00 per share.
• Analysts maintain a generally positive view, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $1,062.86; shares recently opened at $1,036.86.

Gabelli Funds LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,960 shares of the investment management company's stock after selling 4,550 shares during the period. Gabelli Funds LLC's holdings in The Goldman Sachs Group were worth $40,414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Audent Global Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 10.1% in 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 buying an additional 479 shares during the period. Wealthfront Advisers LLC bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $53,720,000. Oak Grove Capital LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth $1,890,000. Nomura Asset Management Co. Ltd. grew its position in The Goldman Sachs Group by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company's stock valued at $124,809,000 after buying an additional 3,653 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of The Goldman Sachs Group by 35.0% in the fourth quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company's stock valued at $10,499,000 after acquiring an additional 3,098 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 0.2%

The Goldman Sachs Group stock opened at $1,036.86 on Tuesday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $301.90 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1 year low of $721.16 and a 1 year high of $1,153.99. The firm's 50 day moving average price is $1,053.15 and its two-hundred day moving average price is $965.21.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The company had revenue of $20.34 billion for the quarter, compared to analysts' expectations of $16.22 billion. During the same quarter in the prior year, the company earned $10.91 earnings per share. The firm's revenue was up 39.4% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group's payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

GS has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a "market perform" rating in a research report on Wednesday, July 15th. BMO Capital Markets upped their price objective on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a "market perform" rating in a report on Wednesday, July 15th. Dbs Bank raised their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Barclays lifted their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,062.86.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman’s involvement with potential future IPOs, including beverage brand Liquid Death, could support investment-banking revenue if the company proceeds with a public offering. However, Liquid Death’s CEO did not provide a timeline. Liquid Death CEO Dodges IPO Question Despite Goldman Sachs Ties
• Positive Sentiment: Goldman research highlighting stronger-than-reported Chinese gold demand and renewed expectations for Chinese economic easing could benefit the firm’s commodities, markets and advisory activity if trading and capital flows increase. China Gold Buying Far Exceeds Official PBOC Reports, Goldman Sachs Data Shows
• Neutral Sentiment: Goldman executive Chris Churchman warned that excessive reliance on AI could cause “cognitive atrophy” among junior bankers. The comments emphasize the need to preserve Goldman’s apprenticeship model while using AI, but do not indicate a change to earnings or strategy. Goldman Sachs partner warns of huge danger in letting AI replace bankers’ reasoning skills
• Neutral Sentiment: Articles comparing GS with finance peers and discussing Goldman’s stock performance provide market context but no new fundamental catalyst. Is The Goldman Sachs Group Stock Outpacing Its Finance Peers This Year?
• Negative Sentiment: Mark Walter’s TWG Global hired a former Goldman executive as its top lawyer while federal authorities investigate how two TWG-linked insurers classified more than $20 billion in loans. Although Goldman is not identified as the investigation’s target, the connection may create reputational and headline risk. Mark Walter’s TWG Global hires Goldman veteran Markowitz as top lawyer amid probe of insurers

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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