Mirae Asset Securities USA Inc. Invests $21.26 Million in The Goldman Sachs Group, Inc. $GS

Key Points

• Mirae Asset Securities USA Inc. opened a new position in Goldman Sachs during the first quarter, buying 25,130 shares valued at about $21.26 million. The stake makes GS its 11th largest holding and roughly 0.8% of its portfolio.
• Several analysts remain constructive on Goldman Sachs, with Bank of America and UBS both raising price targets; the consensus view is still Hold with an average target of $986.91. This comes as the stock has already climbed near its 52-week high.
• Goldman Sachs posted better-than-expected first-quarter results, including EPS of $17.55 versus an expected $15.92 and revenue of $17.23 billion, while also paying a quarterly dividend of $4.50 per share ($18 annualized).

Mirae Asset Securities USA Inc. bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,130 shares of the investment management company's stock, valued at approximately $21,260,000. The Goldman Sachs Group accounts for about 0.8% of Mirae Asset Securities USA Inc.'s portfolio, making the stock its 11th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dagco Inc. acquired a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new position in The Goldman Sachs Group during the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC grew its holdings 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 worth $27,000 after acquiring an additional 23 shares during the period. Steph & Co. bought a new stake in The Goldman Sachs Group in the first quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Insiders Place Their Bets

In related news, CAO Sheara J. Fredman sold 10,301 shares of the business's stock in a transaction dated Friday, May 1st. The stock was 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 owned 6,338 shares of the company's stock, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the sale, the chief financial officer owned 31,070 shares of the company's stock, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 33,681 shares of company stock valued at $31,737,875. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,150 and kept a buy rating, signaling confidence in upside from current levels.
• Positive Sentiment: UBS also lifted its target on GS to $1,120, suggesting analysts still see room for the stock to appreciate.
• Positive Sentiment: Multiple earnings previews pointed to growth in Goldman Sachs’ upcoming results, with analysts expecting the firm to benefit from stronger trading activity and dealmaking across Wall Street.
• Positive Sentiment: Reuters reported that a surge in trading activity, helped by the SpaceX IPO, could lift second-quarter earnings at major Wall Street banks, including Goldman Sachs.
• Neutral Sentiment: Goldman Sachs’ own strategists said the market’s “HALO trade” is entering a tougher phase where earnings performance matters more, which may be prompting a more cautious tone across equities.
• Neutral Sentiment: Several articles highlighted Goldman Sachs research on other assets and companies, including bullish calls on Nvidia and Meta and a bearish take on gold; these reinforce the firm’s market influence but do not directly change GS fundamentals.
• Negative Sentiment: GS has been cited in headlines about rising leverage in the market and hedge funds trimming riskier exposures, which can contribute to a more cautious trading backdrop for financial stocks.
• Negative Sentiment: A Zacks note said Goldman Sachs dipped more than the broader market in the latest session, indicating near-term selling pressure and weaker relative performance.

Analysts Set New Price Targets

GS has been the topic of a number of recent analyst reports. Rothschild & Co Redburn boosted their target price on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a "neutral" rating in a research report on Thursday, June 25th. Weiss Ratings upgraded shares of The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 30th. Bank of America raised their price target on The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Tuesday. UBS Group lifted their target price on shares of The Goldman Sachs Group from $940.00 to $1,120.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, BMO Capital Markets boosted their target price on shares of The Goldman Sachs Group from $972.00 to $1,070.00 and gave the stock a "market perform" rating in a research report on Monday, June 29th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average price target of $986.91.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $1,041.95 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The firm has a fifty day simple moving average of $1,010.57 and a 200-day simple moving average of $935.60. The stock has a market capitalization of $307.39 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.36 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1-year low of $691.30 and a 1-year high of $1,125.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $14.12 EPS. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

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

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.

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