K.J. Harrison & Partners Inc Acquires 2,800 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• K.J. Harrison & Partners increased its Goldman Sachs stake by 27.4% in the first quarter, buying 2,800 more shares and bringing its total holding to 13,031 shares worth about $11.0 million.
• Goldman Sachs recently posted strong quarterly earnings, with EPS of $17.55 beating estimates and revenue of $17.23 billion topping expectations; the company also raised its annual dividend to $18.00 per share, yielding about 1.8%.
• Analyst sentiment is mixed, with several firms cutting price targets and one downgrading the stock, but Goldman still carries a consensus Hold rating and a consensus price target of $974.18.

K.J. Harrison & Partners Inc grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 27.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,031 shares of the investment management company's stock after purchasing an additional 2,800 shares during the quarter. The Goldman Sachs Group makes up approximately 1.8% of K.J. Harrison & Partners Inc's holdings, making the stock its 10th biggest holding. K.J. Harrison & Partners Inc's holdings in The Goldman Sachs Group were worth $11,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after buying an additional 58 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of The Goldman Sachs Group by 90.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company's stock worth $1,098,000 after buying an additional 735 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of The Goldman Sachs Group by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company's stock valued at $581,000 after acquiring an additional 70 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in shares of The Goldman Sachs Group by 22.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company's stock valued at $1,522,000 after acquiring an additional 391 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Trending Headlines about The Goldman Sachs Group

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GS shares. Jefferies Financial Group reduced their price objective 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. Oppenheimer downgraded The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a research note on Tuesday. Evercore lowered their price target on The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating for the company in a report on Monday, April 6th. BNP Paribas Exane dropped their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Finally, CICC Research lifted their price objective on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an "outperform" rating in a report on Tuesday, May 19th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus price target of $974.18.

The Goldman Sachs Group Price Performance

Shares of GS opened at $1,022.00 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a twelve month low of $691.30 and a twelve month high of $1,125.00. The stock 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 company has a 50 day moving average of $1,005.83 and a 200-day moving average of $932.87.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same period in the previous year, the business earned $14.12 EPS. The company's revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 60.18 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 32.89%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of the company's stock in a transaction on Thursday, May 14th. The shares were 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 of the company's stock, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares of the company's stock, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,681 shares of company stock valued at $31,737,875 in the last ninety days. 0.55% of the stock is owned by company 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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