Independent Financial Group LLC Purchases Shares of 4,161 The Goldman Sachs Group, Inc. $GS

Key Points

• Independent Financial Group LLC disclosed a new first-quarter stake in Goldman Sachs, buying 4,161 shares valued at about $3.52 million.
• Goldman Sachs posted a strong quarterly earnings beat, reporting $20.98 EPS and $20.34 billion in revenue, both well above analyst expectations, with revenue up 39.4% from a year earlier.
• The company also raised its quarterly dividend to $5.00 per share from $4.50, while analysts remain broadly constructive with a consensus Hold rating and an average price target of $1,061.43.

Independent Financial Group LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,161 shares of the investment management company's stock, valued at approximately $3,521,000.

Other hedge funds have also recently made changes to their positions in the company. Enterprise Financial Services Corp increased its position in shares of The Goldman Sachs Group by 8.3% during the first quarter. Enterprise Financial Services Corp now owns 459 shares of the investment management company's stock worth $388,000 after acquiring an additional 35 shares in the last quarter. Frazier Financial Advisors LLC lifted its position in The Goldman Sachs Group by 95.2% in the 1st quarter. Frazier Financial Advisors LLC now owns 41 shares of the investment management company's stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in The Goldman Sachs Group during the 1st quarter valued at about $2,079,000. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in The Goldman Sachs Group by 4.1% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 1,371 shares of the investment management company's stock valued at $1,160,000 after purchasing an additional 54 shares during the last quarter. Finally, Evergreen Advisors LLC bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $47,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, 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 position. 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 business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,566 shares of company stock valued at $30,712,978. 0.55% of the stock is currently owned by company insiders.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

Wall Street Analysts Forecast Growth

GS has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a "market perform" rating in a research note on Wednesday. Rothschild & Co Redburn lifted their target price on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a report on Wednesday. HSBC increased their price target on The Goldman Sachs Group from $729.00 to $765.00 in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded The Goldman Sachs Group from a "hold" rating to a "buy" rating in a research note on Saturday. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $1,061.43.

The Goldman Sachs Group Stock Performance

GS stock opened at $1,066.28 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 2.83. The firm has a market cap of $314.56 billion, a PE ratio of 16.46, a P/E/G ratio of 1.24 and a beta of 1.30. The business has a 50 day moving average of $1,035.20 and a 200-day moving average of $945.44. The Goldman Sachs Group, Inc. has a 12-month low of $691.88 and a 12-month high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts' consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The business had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same period last year, the company posted $10.91 earnings per share. The Goldman Sachs Group's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 64.34 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. The Goldman Sachs Group's payout ratio is 27.78%.

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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