J. L. Bainbridge & Co. Inc. Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• J. L. Bainbridge & Co. cut its Goldman Sachs stake by 1.7% in the second quarter, selling 1,471 shares and retaining 83,591 shares valued at $84.5 million. Institutional investors collectively own 71.21% of the company.
• Goldman Sachs reported quarterly EPS of $20.98, well above the $14.47 consensus estimate, while revenue rose 39.4% year over year to $20.34 billion. The company also raised its quarterly dividend to $5.00, or $20.00 annually.
• Analysts maintain a “Moderate Buy” consensus with an average target price of $1,062.86, while Goldman is expanding its asset-management and alternatives businesses through a proposed $2.25 billion acquisition of NEOS Investments and participation in Nvidia’s $500 billion AI infrastructure financing initiative.

J. L. Bainbridge & Co. Inc. cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,591 shares of the investment management company's stock after selling 1,471 shares during the quarter. The Goldman Sachs Group comprises about 6.7% of J. L. Bainbridge & Co. Inc.'s holdings, making the stock its 4th largest position. J. L. Bainbridge & Co. Inc.'s holdings in The Goldman Sachs Group were worth $84,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Herold Advisors Inc. boosted its position in The Goldman Sachs Group by 2.2% during the second quarter. Herold Advisors Inc. now owns 1,825 shares of the investment management company's stock valued at $1,844,000 after acquiring an additional 39 shares during the last quarter. Hidden Cove Wealth Management LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter worth about $241,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of The Goldman Sachs Group by 85.0% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 74 shares of the investment management company's stock valued at $75,000 after purchasing an additional 34 shares during the period. Drive Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 7.7% in the 2nd quarter. Drive Wealth Management LLC now owns 999 shares of the investment management company's stock valued at $1,010,000 after purchasing an additional 71 shares during the period. Finally, Aurora Private Wealth Inc. bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $231,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Dbs Bank raised their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a research note on Wednesday, July 15th. 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 research report on Tuesday, May 5th. Citigroup lifted their price objective on shares of 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,062.86.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs agreed to acquire ETF manager NEOS Investments for up to $2.25 billion in cash and equity. NEOS manages more than $30 billion across 19 options-based ETFs, giving Goldman an immediate presence in the fast-growing active ETF, income-generation and downside-management markets. The transaction is expected to close in the first quarter of 2027. Goldman Sachs to buy ETF manager NEOS in $2.25bn deal
• Positive Sentiment: The deal also adds NEOS’s Bitcoin- and Ethereum-linked income ETFs to Goldman’s product lineup, supporting its broader push into alternatives, digital assets and wealth-management products. Greater assets under management could provide recurring fee revenue over time. Goldman Sachs is paying $2.25 billion to get into Bitcoin income game
• Positive Sentiment: Goldman is reportedly courting banks, insurers, asset managers and private-credit firms to participate in Nvidia’s $500 billion AI infrastructure financing initiative. Its involvement could generate underwriting, placement and advisory fees while strengthening a longstanding relationship with Nvidia. Goldman Sachs Mobilizes Investors for Nvidia’s $500 Billion AI Infrastructure Push
• Neutral Sentiment: The latest news does not disclose Goldman’s expected revenue from either initiative. Investors may therefore focus on whether the substantial NEOS purchase price can translate into sufficient growth and whether the Nvidia financing can be executed without adding excessive risk.

The Goldman Sachs Group Stock Down 0.4%

GS stock opened at $1,038.81 on Friday. The stock's 50 day simple moving average is $1,054.35 and its 200 day simple moving average is $961.00. The company has a market cap of $302.47 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.30. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $705.55 and a fifty-two week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts' consensus estimates of $14.47 by $6.51. The firm had revenue of $20.34 billion during the quarter, compared to analysts' expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The company's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the firm posted $10.91 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $5.00 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $4.50. The Goldman Sachs Group's dividend payout ratio (DPR) is 27.78%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source