Hardy Reed LLC Buys Shares of 2,040 The Goldman Sachs Group, Inc. $GS

Key Points

• Hardy Reed LLC initiated a position of 2,040 Goldman Sachs shares valued at approximately $2.06 million. Institutional investors collectively own 71.21% of the company, with major holders including Vanguard and State Street.
• Goldman Sachs reported quarterly earnings of $20.98 per share, far exceeding the $14.47 consensus estimate, while revenue rose 39.4% year over year to $20.34 billion.
• The company raised its quarterly dividend from $4.50 to $5.00 per share. Goldman is also expanding asset management through planned acquisitions of LCN Capital Partners and Neos Investments, while analysts maintain a “Moderate Buy” consensus rating.

Hardy Reed LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,040 shares of the investment management company's stock, valued at approximately $2,063,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in The Goldman Sachs Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock valued at $25,503,685,000 after purchasing an additional 418,820 shares during the last quarter. State Street Corp increased its position in The Goldman Sachs Group by 2.1% in the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company's stock worth $17,197,444,000 after purchasing an additional 394,198 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company's stock worth $5,952,199,000 after purchasing an additional 110,134 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of The Goldman Sachs Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company's stock worth $5,896,795,000 after purchasing an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of The Goldman Sachs Group by 8.0% during the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company's stock valued at $5,460,875,000 after buying an additional 476,977 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs agreed to acquire real-estate investment manager LCN Capital Partners for up to $410 million, including $260 million upfront and as much as $150 million in performance-based consideration. About 80% of the purchase price will reportedly be paid in stock. LCN manages approximately $3 billion in assets and specializes in sale-leasebacks, build-to-suit projects and triple-net leases, adding recurring-fee capabilities to Goldman’s roughly $4 trillion asset-management platform. Goldman Sachs buys LCN Capital Partners
• Positive Sentiment: The LCN transaction is Goldman’s second asset-management deal in a week, following its planned acquisition of ETF provider Neos Investments for as much as approximately $2.25 billion. The strategy could diversify revenue away from more cyclical trading and investment-banking activities and accelerate long-term fee growth. Goldman Sachs to acquire ETF provider Neos
• Positive Sentiment: CEO David Solomon expressed strong confidence in Nvidia and participated in discussions about a proposed $500 billion AI infrastructure financing plan. Goldman could benefit from financing, advisory and capital-markets fees if AI investment accelerates, though the plan also introduces potential underwriting and credit risks. Goldman CEO discusses Nvidia and AI financing
• Neutral Sentiment: Goldman disclosed a 3.05% voting stake in QIAGEN, while a separate filing showed its Ontex holding fluctuating near the 3% disclosure threshold. These appear to be investment or client-position disclosures rather than changes to Goldman’s operating outlook. Goldman Sachs discloses QIAGEN stake
• Negative Sentiment: Goldman warned that consumer-spending growth could become sluggish as the boost from elevated tax refunds fades. A weaker consumer backdrop could reduce transaction activity and weigh on economic expectations, potentially offsetting benefits from stronger capital-markets conditions. Goldman warns of consumer spending slowdown

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $1,039.68 on Wednesday. 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 $302.72 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.05 and a beta of 1.30. The business's 50-day simple moving average is $1,054.62 and its 200-day simple moving average is $962.79. The Goldman Sachs Group, Inc. has a 52 week low of $705.55 and a 52 week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same period last year, the business earned $10.91 EPS. The firm's revenue was up 39.4% compared to the same quarter last year. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GS. Citigroup boosted their price target on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Rothschild & Co Redburn lifted their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. UBS Group lifted their target price on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Wells Fargo & Company boosted their target price 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. Finally, BNP Paribas Exane dropped their price target on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,062.86.

About The Goldman Sachs Group

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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