Howe & Rusling Inc. Has $15.47 Million Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Howe & Rusling Inc. trimmed its Goldman Sachs stake by 8.8% in the first quarter, selling 1,773 shares and ending with 18,282 shares worth about $15.47 million.
• Goldman Sachs posted stronger-than-expected quarterly results, reporting EPS of $17.55 versus the $15.92 consensus and revenue of $17.23 billion, up 14.4% year over year.
• Analysts remain cautious overall: despite multiple target-price increases, the stock’s consensus rating is still Hold, with an average target price of $974.18.

Howe & Rusling Inc. decreased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 18,282 shares of the investment management company's stock after selling 1,773 shares during the quarter. The Goldman Sachs Group accounts for about 1.0% of Howe & Rusling Inc.'s investment portfolio, making the stock its 25th biggest position. Howe & Rusling Inc.'s holdings in The Goldman Sachs Group were worth $15,467,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 worth $25,503,685,000 after acquiring an additional 418,820 shares during the period. State Street Corp increased its position in shares of The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company's stock valued at $17,197,444,000 after purchasing an additional 394,198 shares during the period. Fisher Asset Management LLC increased its position in shares of The Goldman Sachs Group by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company's stock valued at $5,952,199,000 after purchasing an additional 110,134 shares during the period. Geode Capital Management LLC raised its stake in shares of The Goldman Sachs Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company's stock valued at $5,896,795,000 after purchasing an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of The Goldman Sachs Group by 3.4% in the fourth quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company's stock valued at $5,254,692,000 after purchasing an additional 194,109 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Key The Goldman Sachs Group News

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 Stock Performance

The Goldman Sachs Group stock opened at $1,022.00 on Friday. The firm has a market capitalization 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 stock has a fifty day moving average price of $1,005.83 and a two-hundred day moving average price of $932.87. The Goldman Sachs Group, Inc. has a 52-week low of $691.30 and a 52-week high of $1,125.00. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick 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, beating the consensus estimate of $15.92 by $1.63. The company had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $14.12 EPS. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 60.18 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were paid a dividend of $4.50 per share. 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 is currently 32.89%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GS shares. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a "neutral" rating in a research note on Friday, June 12th. HSBC increased their price objective on shares of The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Daiwa Securities Group raised their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Jefferies Financial Group lowered their target price on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, UBS Group increased their price target on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and an average target price of $974.18.

Insider Activity

In related news, insider Alex S. Golten sold 1,116 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the sale, the insider directly owned 2,578 shares in the company, valued at $2,413,472.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the sale, the insider directly owned 15,657 shares of the company's stock, valued at $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 over the last three months. 0.55% of the stock is owned by corporate 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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