National Pension Service Trims Position in The Goldman Sachs Group, Inc. $GS

Key Points

• National Pension Service slightly reduced its Goldman Sachs stake by 0.9% in the fourth quarter, but still held 660,068 shares valued at about $580.2 million.
• Goldman Sachs reported strong recent operating results, with Q1 earnings of $17.55 per share and revenue of $17.23 billion, both topping analyst expectations and rising from a year earlier.
• Analysts and recent news remain constructive on the stock, citing near-record M&A activity, improved dealmaking momentum, and a raised average price target of $943.95, even as insiders have sold shares in recent months.

National Pension Service cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 660,068 shares of the investment management company's stock after selling 5,726 shares during the period. National Pension Service owned 0.22% of The Goldman Sachs Group worth $580,200,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. A4 Wealth Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the third quarter worth $940,000. Stevens Capital Management LP purchased a new stake in shares of The Goldman Sachs Group in the third quarter worth $1,392,000. Meridian Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 39.4% during the third quarter. Meridian Wealth Management LLC now owns 2,332 shares of the investment management company's stock valued at $1,857,000 after purchasing an additional 659 shares in the last quarter. AlTi Global Inc. lifted its holdings in shares of The Goldman Sachs Group by 87.3% during the third quarter. AlTi Global Inc. now owns 29,770 shares of the investment management company's stock valued at $23,707,000 after purchasing an additional 13,879 shares in the last quarter. Finally, Chung Wu Investment Group LLC lifted its holdings in shares of The Goldman Sachs Group by 114.4% during the third quarter. Chung Wu Investment Group LLC now owns 2,080 shares of the investment management company's stock valued at $1,656,000 after purchasing an additional 1,110 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs said M&A activity is running near record levels in 2026, which supports higher investment-banking fees and points to stronger revenue ahead. Reuters article
• Positive Sentiment: The firm raised its year-end S&P 500 target to 8,000, citing robust earnings and AI-driven growth, reinforcing a constructive outlook for the broader market environment Goldman benefits from. MarketWatch article
• Positive Sentiment: Goldman’s comments that it is seeing near-record M&A volumes and broader dealmaking momentum are reinforcing hopes for continued strength in advisory and underwriting revenue. TipRanks article
• Positive Sentiment: Reports that Goldman Sachs is now the lead underwriter for SpaceX’s planned IPO add to expectations for a potentially high-profile fee-generating mandate. Seeking Alpha article
• Positive Sentiment: Recent earnings strength and a strong quarter continue to support the stock’s momentum, with Goldman’s shares staying near highs after solid results and improved investor sentiment. Yahoo Finance article
• Neutral Sentiment: Analyst and media coverage highlighting Goldman as a trending or high-valuation stock may keep attention on the name, but does not by itself change the fundamentals. Zacks article
• Negative Sentiment: Goldman’s COO warned that inflation remains the “single biggest risk” to the economy, a reminder that macro uncertainty could still pressure markets and deal activity. Yahoo Finance article

Analysts Set New Price Targets

GS has been the topic of a number of research analyst reports. Daiwa Securities Group upped their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. BMO Capital Markets upped their price target on The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a report on Monday, April 20th. CICC Research upped their price target 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. Rothschild & Co Redburn upped their price target on The Goldman Sachs Group from $839.00 to $870.00 and gave the company a "neutral" rating in a report on Friday, April 17th. Finally, Dbs Bank boosted their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $943.95.

Insider Buying and Selling

In related 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 value of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares of the company's stock, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alex S. Golten sold 1,116 shares of the company's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the completion of the transaction, the insider directly owned 2,578 shares of the company's stock, valued at $2,413,472.04. This represents a 30.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,681 shares of company stock worth $31,737,875 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Up 1.2%

GS stock opened at $1,008.15 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $592.17 and a fifty-two week high of $1,016.53. The business's 50-day moving average is $908.99 and its two-hundred day moving average is $891.19. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $297.41 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.28 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. During the same quarter last year, the company earned $14.12 earnings per share. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be paid a $4.50 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.8%. The Goldman Sachs Group's dividend payout ratio (DPR) is 32.89%.

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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