The Goldman Sachs Group, Inc. $GS Shares Bought by Hartford Funds Management Co LLC

Key Points

• Hartford Funds Management nearly doubled its stake in Goldman Sachs in the fourth quarter, increasing holdings by 93.6% to 2,201 shares valued at about $1.94 million.
• Goldman Sachs delivered a strong first-quarter earnings beat, with EPS of $17.55 versus estimates of $15.92 and revenue of $17.23 billion, up 14.4% year over year.
• Despite upbeat results, Wall Street remains cautious overall: the stock has a Hold consensus rating, and analysts’ average price target is $942.24, while insiders have also been selling shares recently.

Hartford Funds Management Co LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 93.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,201 shares of the investment management company's stock after acquiring an additional 1,064 shares during the quarter. Hartford Funds Management Co LLC's holdings in The Goldman Sachs Group were worth $1,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dagco Inc. acquired a new stake in The Goldman Sachs Group during the fourth quarter worth $25,000. Manning & Napier Advisors LLC increased its stake 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. Kohmann Bosshard Financial Services LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth $31,000. Entrust Financial LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth $34,000. Finally, Graney & King LLC increased its stake in The Goldman Sachs Group by 51.5% during the second quarter. Graney & King LLC now owns 50 shares of the investment management company's stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Rothschild & Co Redburn raised their target price on The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a "neutral" rating in a research note on Friday, April 17th. BNP Paribas Exane cut their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Daiwa Securities Group lifted their price objective on 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. Finally, Wells Fargo & Company dropped their price objective on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating for the company in a research note on Monday, April 13th. Eight analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $942.24.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs reported a strong rebound in investment banking fees, which climbed 48% in the first quarter, suggesting improved deal activity and better revenue prospects for the firm. Article Title
• Positive Sentiment: Goldman’s market commentary has been constructive on AI-related themes, with the firm saying AI and hyperscaler stocks are becoming a “defensive” trade as investors look for growth exposure, reinforcing Goldman’s relevance in a leading market trend. Article Title
• Positive Sentiment: The firm said central banks are likely to increase gold buying, which could support commodity prices and reflects Goldman’s market influence in a key macro theme. Article Title
• Neutral Sentiment: CFO Denis P. Coleman sold 6,857 shares in a disclosed transaction, but the sale was only a partial reduction in his holdings and does not by itself signal a change in the company’s fundamentals. Article Title
• Neutral Sentiment: Goldman also disclosed portfolio changes in crypto-related holdings, including exits from XRP and Solana ETF exposure and a new position tied to Hyperliquid, which looks more like a portfolio rebalance than a direct earnings driver for GS shares. Article Title

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction on Thursday, May 14th. The stock was 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 directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the completion of the transaction, the insider owned 2,578 shares of the company's stock, valued at approximately $2,413,472.04. This trade represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In 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 company insiders.

The Goldman Sachs Group Trading Down 0.3%

Shares of NYSE GS opened at $945.40 on Tuesday. The Goldman Sachs Group, Inc. has a twelve month low of $582.50 and a twelve month high of $984.70. 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 stock has a fifty day simple moving average of $880.81 and a 200-day simple moving average of $880.02. The stock has a market capitalization of $278.90 billion, a PE ratio of 17.28, a PEG ratio of 1.22 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 16.53% and a net margin of 14.13%.The company's revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $14.12 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be issued a $4.50 dividend. The ex-dividend date is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.9%. The Goldman Sachs Group's dividend payout ratio (DPR) is 32.89%.

The Goldman Sachs Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.