Mediolanum International Funds Ltd Sells 33,861 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Mediolanum International Funds Ltd cut its stake in Goldman Sachs by 85.6% in the first quarter, selling 33,861 shares and leaving it with 5,719 shares worth about $4.62 million.
• Goldman Sachs reported strong Q2 results, with earnings of $20.98 per share versus the $14.47 consensus estimate and revenue up 39.4% year over year to $20.34 billion.
• The company also raised its quarterly dividend to $5.00 per share from $4.50, bringing the annualized payout to $20.00 and a yield of about 1.9%.

Mediolanum International Funds Ltd trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 85.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,719 shares of the investment management company's stock after selling 33,861 shares during the period. Mediolanum International Funds Ltd's holdings in The Goldman Sachs Group were worth $4,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Dagco Inc. purchased a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC lifted its position in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after purchasing an additional 23 shares during the last quarter. Steph & Co. bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GS. Zacks Research upgraded shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. BMO Capital Markets raised their price target on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a "market perform" rating in a research report on Wednesday, July 15th. Dbs Bank lifted their price target on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. UBS Group upped their price objective on The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a "neutral" rating in a report on Tuesday, July 7th. Finally, BNP Paribas Exane reduced their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $1,061.43.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,054.16 on Tuesday. The stock has a market cap of $310.99 billion, a PE ratio of 16.27, a PEG ratio of 1.11 and a beta of 1.30. The company's fifty day moving average is $1,037.38 and its 200 day moving average is $947.02. The Goldman Sachs Group, Inc. has a 52 week low of $691.88 and a 52 week high of $1,153.99. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The business had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same period in the prior year, the business posted $10.91 earnings per share. The company's revenue was up 39.4% on a year-over-year basis. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 66.83 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $4.50. The Goldman Sachs Group's dividend payout ratio is 27.78%.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs’ research and market commentary are reinforcing a constructive view on the bank sector, with articles highlighting strong Q2 beats, double-digit earnings growth expectations, and attractive non-AI investment themes. This can help sentiment around GS as investors rotate toward financials and away from crowded tech trades. Zacks Market Edge Highlights: Goldman Sachs, Wells Fargo, JPMorgan Chase , Citigroup and Bank of America
• Positive Sentiment: Goldman Sachs is also getting attention for highlighting “non-AI” winners and for noting that hedge funds are trimming tech exposure at a record pace, which suggests a possible sector rotation into value and financials. That backdrop may be helping GS outperform broader market caution around tech. Buy These Five Non-AI Stocks, Says Goldman Sachs (GS)
• Positive Sentiment: Several reports point to Goldman Sachs’ strong positioning and successful calls around market themes, including recommendations tied to the cooling AI trade. That can boost confidence in GS as a research leader and a beneficiary of active trading and advisory activity. Scared of the AI trade? Here are three investment themes instead, says Goldman Sachs
• Neutral Sentiment: Goldman Sachs also reported on inflation broadening out, which is a macro observation rather than a direct company catalyst. It may influence rate expectations and bank-sector trading, but the impact on GS is indirect. Inflation is broadening out, says Goldman economist
• Neutral Sentiment: The firm announced a proposed public offering of depositary shares / preferred stock. While this strengthens funding flexibility, investors may also see it as a mild overhang because it can increase share count or signal balance-sheet management needs. Goldman Sachs Plans New Preferred Stock Offering
• Negative Sentiment: Goldman Sachs’ warning that hedge funds are selling U.S. tech stocks at a record pace underscores rising market volatility and a more cautious risk backdrop. Even if that rotation helps banks relatively, it can still make investors more defensive overall. Goldman Says Hedge Funds Sell US Tech Stocks at Record Pace

Insider Buying and Selling

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer directly owned 31,070 shares of the company's stock, valued at $30,248,198.50. The trade was a 18.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were 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 owned 6,338 shares of the company's stock, valued at $5,889,079.46. The trade was a 61.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,566 shares of company stock valued at $30,712,978 in the last 90 days. 0.55% of the stock is 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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