NBT Bank N A NY Reduces Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• NBT Bank N A NY reduced its Goldman Sachs stake by 13.3% in the first quarter, selling 1,510 shares and leaving it with 9,886 shares valued at about $8.36 million.
• Goldman Sachs reported stronger-than-expected first-quarter results, posting EPS of $17.55 versus estimates of $15.92 and revenue of $17.23 billion versus expectations of $16.66 billion, with revenue up 14.4% year over year.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average target price of $974.18, even as some firms raised their price targets and Goldman continues to pay a quarterly dividend of $4.50 per share.

NBT Bank N A NY reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,886 shares of the investment management company's stock after selling 1,510 shares during the quarter. NBT Bank N A NY's holdings in The Goldman Sachs Group were worth $8,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. Dagco Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC boosted 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 worth $27,000 after acquiring an additional 23 shares during the last quarter. Steph & Co. acquired a new position in The Goldman Sachs Group during the first quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $1,022.00 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The firm's 50-day moving average is $1,005.83 and its two-hundred day moving average is $932.87. The Goldman Sachs Group, Inc. has a 12 month low of $691.30 and a 12 month high of $1,125.00. The company has a market capitalization of $301.50 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.32 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating the consensus estimate of $15.92 by $1.63. The business had revenue of $17.23 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $14.12 EPS. Analysts predict 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. Investors of record on Monday, June 1st were issued a $4.50 dividend. The ex-dividend date was Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The Goldman Sachs Group's dividend payout ratio is currently 32.89%.

Analyst Ratings Changes

GS has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a "neutral" rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $826.00 to $900.00 and gave the company a "neutral" rating in a research report on Friday, June 12th. Daiwa Securities Group increased 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. Finally, HSBC lifted their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research report on Monday, May 4th. Ten 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $974.18.

Key Headlines Impacting 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

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares in the company, valued at $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by insiders.

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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