Resona Asset Management Co. Ltd. Raises Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Resona Asset Management boosted its stake in Goldman Sachs by 1.4% in the first quarter, bringing its holdings to 91,499 shares worth about $76.8 million.
• Goldman Sachs reported strong first-quarter results, with EPS of $17.55 and revenue of $17.23 billion, both ahead of analyst estimates and up year over year.
• The company recently paid a quarterly dividend of $4.50 per share, and analysts remain mixed overall, with an average rating of “Hold” and an average price target of $986.91.

Resona Asset Management Co. Ltd. increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,499 shares of the investment management company's stock after acquiring an additional 1,254 shares during the period. Resona Asset Management Co. Ltd.'s holdings in The Goldman Sachs Group were worth $76,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $2,515,830,000. Corient Private Wealth LLC increased its stake in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company's stock valued at $2,282,312,000 after acquiring an additional 2,448,767 shares during the last quarter. Wellington Management Group LLP raised its position in The Goldman Sachs Group by 110.8% during the third quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company's stock valued at $1,417,997,000 after purchasing an additional 936,015 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in The Goldman Sachs Group by 428.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company's stock worth $488,947,000 after purchasing an additional 450,984 shares during the last quarter. Finally, Diamant Asset Management Inc. lifted its stake in The Goldman Sachs Group by 84,499.0% during the first quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company's stock worth $35,785,000 after purchasing an additional 422,495 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 1.3%

NYSE GS opened at $1,028.92 on Thursday. The firm has a market cap of $303.54 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.34 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 stock has a 50-day moving average of $1,012.40 and a 200-day moving average of $936.67. 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 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 (EPS) for the quarter, topping the consensus estimate of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The Goldman Sachs Group's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $14.12 EPS. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 32.89%.

Analysts Set New Price Targets

Several brokerages have recently commented on GS. Citigroup increased their price objective on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 23rd. Morgan Stanley upped their target price on The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. BNP Paribas Exane reduced their price target on shares of 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. HSBC lifted their price target on shares of The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Finally, Daiwa Securities Group upped their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $986.91.

Insider Activity

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the completion of the sale, the insider owned 2,578 shares of the company's stock, valued at $2,413,472.04. This represents a 30.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,681 shares of company stock worth $31,737,875 over the last ninety days. 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: Goldman Sachs is being cited as a beneficiary of a stronger second quarter for Wall Street banks, with analysts saying a trading surge — helped by the SpaceX IPO and solid M&A activity — could lift results when GS reports earnings next week. Article Title
• Positive Sentiment: Bank of America raised its price target on GS to $1,150 and kept a Buy rating, while UBS also lifted its target, reinforcing bullish sentiment ahead of earnings. Article Title
• Positive Sentiment: Multiple previews ahead of the July 14 earnings report say Goldman Sachs could post earnings growth, with expectations centered on strong trading and investment banking revenue. Article Title
• Positive Sentiment: Goldman Sachs is also highlighting long-term growth opportunities in private markets, saying it sees a $2 trillion opportunity and wants to scale alternative assets under supervision to $750 billion by 2030. Article Title
• Neutral Sentiment: Goldman Sachs continues to issue market calls and research across sectors, including a bullish view on Nvidia, a favorable take on Meta, and revised commodity and currency forecasts, which mostly reflects the firm’s influence as a market strategist rather than a direct catalyst for GS shares. Article Title
• Negative Sentiment: One article noted Goldman’s own strategists have warned that leverage is building in markets and that hedge funds are reducing tech exposure, which could signal a more cautious backdrop for risk assets if volatility rises. Article Title

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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