Global Retirement Partners LLC Purchases 3,098 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Global Retirement Partners LLC boosted its Goldman Sachs position by 35% in the fourth quarter, buying 3,098 additional shares and bringing its stake to 11,944 shares worth about $10.5 million.
• Goldman Sachs is drawing attention after reports that it may lead SpaceX’s IPO, a potential landmark deal that could generate significant underwriting fees for the bank.
• The stock has also seen mixed signals from insiders and analysts: CFO Denis P. Coleman recently sold shares, while Wall Street’s consensus rating remains Hold with a target price of $943.95.

Global Retirement Partners LLC increased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 35.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,944 shares of the investment management company's stock after acquiring an additional 3,098 shares during the period. Global Retirement Partners LLC's holdings in The Goldman Sachs Group were worth $10,499,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GS. Dagco Inc. bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $25,000. Manning & Napier Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after acquiring an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. Entrust Financial LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $34,000. Finally, Graney & King LLC grew its holdings in shares of The Goldman Sachs Group by 51.5% in the second quarter. Graney & King LLC now owns 50 shares of the investment management company's stock worth $35,000 after acquiring an additional 17 shares during the period. Institutional investors own 71.21% of the company's stock.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs is reportedly set to lead SpaceX’s IPO, a landmark deal that could be the largest ever and bring in significant banking fees. Reuters: Goldman Sachs set to be named lead left underwriter for SpaceX IPO
• Positive Sentiment: Multiple outlets confirmed or repeated the SpaceX lead-underwriter news, adding to investor enthusiasm around Goldman Sachs’ advisory and underwriting franchise. CNBC: SpaceX picks Goldman Sachs to lead record-breaking IPO
• Positive Sentiment: Goldman Sachs also got a target-price boost from CICC Research to $980 with an outperform rating, reinforcing a constructive view on the stock. MarketScreener: CICC adjusts price target on Goldman Sachs
• Neutral Sentiment: Goldman Sachs said global oil stockpiles are being drawn down at a record pace, a view that reflects its macro commentary rather than a direct business update for GS. Financial Post: Goldman Says Oil Drawdowns Hit Record Pace as Buffer Shrinks
• Neutral Sentiment: Other recent headlines show Goldman advising on AI/data-center financing and discussing market volatility, which supports the firm’s visibility but is less immediate for the stock than the SpaceX IPO news. Reuters: Saudi Arabia's Humain picks Goldman Sachs to advise on data centre financing

Insiders Place Their Bets

In other news, CFO Denis P. Coleman sold 6,857 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the completion of the transaction, the insider owned 2,578 shares in the company, valued at $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,681 shares of company stock valued at $31,737,875 over the last three months. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup lifted their price objective on The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Rothschild & Co Redburn boosted their price target on The Goldman Sachs Group from $839.00 to $870.00 and gave the company a "neutral" rating in a report on Friday, April 17th. Daiwa Securities Group boosted their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Jefferies Financial Group cut their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating for the company in a report on Monday, April 6th. Finally, Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $943.95.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $981.97 on Thursday. The stock has a 50-day simple moving average of $885.93 and a two-hundred day simple moving average of $882.40. The Goldman Sachs Group, Inc. has a 52-week low of $582.50 and a 52-week high of $984.70. 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 firm has a market capitalization of $289.69 billion, a PE ratio of 17.95, a P/E/G ratio of 1.20 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same quarter in the previous year, the company posted $14.12 earnings per share. The Goldman Sachs Group's revenue for the quarter was up 14.4% on a year-over-year basis. Analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be given a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's payout ratio is presently 32.89%.

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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