The Goldman Sachs Group, Inc. $GS Shares Bought by Busey Bank

Key Points

• Busey Bank increased its stake in Goldman Sachs by 3.2% in the first quarter, adding 1,167 shares to bring its total to 38,091 shares valued at about $32.2 million.
• Goldman Sachs posted strong quarterly results, with earnings of $17.55 per share and revenue of $17.23 billion, both above analyst expectations and up 14.4% from a year earlier.
• Insider selling and mixed analyst views were also notable: CFO Denis P. Coleman and other insiders sold shares over the past 90 days, while analysts currently rate the stock a consensus Hold with an average target price of $974.18.

Busey Bank grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,091 shares of the investment management company's stock after purchasing an additional 1,167 shares during the quarter. The Goldman Sachs Group comprises approximately 0.9% of Busey Bank's portfolio, making the stock its 28th largest holding. Busey Bank's holdings in The Goldman Sachs Group were worth $32,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of The Goldman Sachs Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock valued at $25,503,685,000 after purchasing an additional 418,820 shares during the last quarter. State Street Corp boosted its stake in The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company's stock worth $17,197,444,000 after buying an additional 394,198 shares during the last quarter. Fisher Asset Management LLC boosted its stake in The Goldman Sachs Group by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company's stock worth $5,952,199,000 after buying an additional 110,134 shares during the last quarter. Geode Capital Management LLC grew its holdings in The Goldman Sachs Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company's stock valued at $5,896,795,000 after buying an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in The Goldman Sachs Group by 3.4% in the 4th quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company's stock valued at $5,254,692,000 after buying an additional 194,109 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $1,022.00 on Monday. The Goldman Sachs Group, Inc. has a 52 week low of $691.30 and a 52 week high of $1,125.00. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $301.50 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.32 and a beta of 1.30. The stock's fifty day moving average is $1,005.83 and its two-hundred day moving average is $933.17.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating 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 company's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $14.12 EPS. Equities analysts expect that The Goldman Sachs Group, Inc. will post 60.18 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were given a $4.50 dividend. The ex-dividend date of this dividend 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 presently 32.89%.

Key The Goldman Sachs Group News

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

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of the business's 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of the company's stock in a transaction that occurred 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 owned 2,578 shares in the company, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on GS shares. Jefferies Financial Group reduced their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Oppenheimer lowered shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a report on Tuesday, June 30th. 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. UBS Group lifted their target price on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. 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 company a "market perform" rating in a report on Monday, June 29th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $974.18.

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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