Howe & Rusling Inc. Has $17.63 Million Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Howe & Rusling Inc. trimmed its Goldman Sachs position by 5.1% in the fourth quarter, leaving it with 20,055 shares worth about $17.63 million. Goldman now makes up roughly 1.2% of the firm’s portfolio.
• Goldman Sachs has been drawing mixed analyst views: some firms cut price targets, and the stock currently carries a consensus Hold rating with an average target price of $941.82.
• The company’s recent fundamentals and news flow have been strong, including a Q1 earnings beat, a new quarterly dividend of $4.50 per share, and headlines about record M&A activity and winning a lead role in SpaceX’s IPO.

Howe & Rusling Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,055 shares of the investment management company's stock after selling 1,076 shares during the quarter. The Goldman Sachs Group comprises approximately 1.2% 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 $17,629,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Acropolis Investment Management LLC grew its position in shares of The Goldman Sachs Group by 1.8% in the fourth quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company's stock valued at $554,000 after purchasing an additional 11 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its position in shares of The Goldman Sachs Group by 2.0% in the fourth quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company's stock valued at $505,000 after purchasing an additional 11 shares during the last quarter. Optas LLC boosted its stake in shares of The Goldman Sachs Group by 0.4% in the fourth quarter. Optas LLC now owns 2,553 shares of the investment management company's stock valued at $2,244,000 after buying an additional 11 shares during the period. Pines Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 0.4% in the fourth quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company's stock valued at $2,255,000 after buying an additional 11 shares during the period. Finally, Welch & Forbes LLC boosted its stake in shares of The Goldman Sachs Group by 0.8% in the fourth quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company's stock valued at $1,257,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Zacks Research cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. 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 research note on Monday, April 6th. Bank of America cut their price target on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. CICC Research boosted their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an "outperform" rating in a research note on Tuesday, May 19th. Finally, BNP Paribas Exane cut their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $941.82.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs surpassed $1 trillion in year-to-date M&A advisory volume, signaling record-breaking deal activity and a stronger revenue outlook from investment banking. Goldman Sachs shatters dealmaking records with $1 trillion in first-half M&A volume
• Positive Sentiment: Goldman Sachs was tapped to lead SpaceX’s IPO, which could boost underwriting fees and serves as a high-profile sign that new listings may be returning. Goldman Sachs (GS) Lands SpaceX IPO Lead As New Listings Come Back Into Focus
• Positive Sentiment: Goldman Sachs’ record M&A pace and continued involvement in major financings are reinforcing investor expectations for stronger fee generation across its advisory and capital-markets businesses. Goldman Tops $1 Trillion of M&A, Fastest Ever to Reach the Mark
• Neutral Sentiment: Several articles referenced Goldman’s research and market commentary on oil, Chinese stocks, and AI themes, but these are more about the firm’s views than a direct business catalyst for GS shares. The peace deal is in the price: Goldman Sachs lowers its oil-price target to market levels

The Goldman Sachs Group Stock Up 1.3%

Shares of GS opened at $1,090.03 on Wednesday. The Goldman Sachs Group, Inc. has a 52 week low of $623.00 and a 52 week high of $1,098.36. The stock has a market capitalization of $321.57 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.40 and a beta of 1.30. 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 stock has a fifty day moving average of $966.09 and a 200-day moving average of $914.56.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $17.23 billion during the quarter, compared to analysts' expectations of $16.66 billion. During the same period in the prior year, the company earned $14.12 EPS. The Goldman Sachs Group's revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 59.08 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the 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 completion of the sale, the insider owned 15,657 shares of the company's stock, valued at $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,681 shares of company stock valued at $31,737,875 over the last quarter. 0.55% of the stock is currently owned by insiders.

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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