The Goldman Sachs Group, Inc. $GS Shares Bought by Prospera Financial Services Inc

Key Points

• Prospera Financial Services increased its Goldman Sachs stake by 18.4% in the fourth quarter, buying 1,738 more shares and bringing its total holding to 11,166 shares worth about $9.8 million.
• Goldman Sachs reported strong first-quarter results, beating analyst expectations with EPS of $17.55 on revenue of $17.23 billion, while revenue rose 14.4% from a year earlier.
• The stock is trading near its 52-week high, and Goldman also announced a quarterly dividend of $4.50 per share; however, the company faces some headwinds, including a $500 million settlement tied to the 1MDB scandal and a mixed analyst consensus of “Hold.”

Prospera Financial Services Inc raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,166 shares of the investment management company's stock after buying an additional 1,738 shares during the quarter. Prospera Financial Services Inc's holdings in The Goldman Sachs Group were worth $9,825,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. A4 Wealth Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the third quarter worth about $940,000. Stevens Capital Management LP acquired a new stake in shares of The Goldman Sachs Group during the third quarter worth about $1,392,000. Meridian Wealth Management LLC lifted its position 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 worth $1,857,000 after purchasing an additional 659 shares in the last quarter. AlTi Global Inc. lifted its position 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 worth $23,707,000 after purchasing an additional 13,879 shares in the last quarter. Finally, National Pension Service lifted its position in shares of The Goldman Sachs Group by 3.1% during the third quarter. National Pension Service now owns 665,794 shares of the investment management company's stock worth $530,205,000 after purchasing an additional 19,796 shares in the last quarter. Institutional investors and hedge funds own 71.21% 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 was selected as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 10,301 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alex S. Golten sold 1,116 shares of the firm'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 transaction, the insider owned 2,578 shares in the company, 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 three months, insiders have sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $996.73 on Monday. 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 firm has a market capitalization of $294.04 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.28 and a beta of 1.28. The firm's 50 day moving average is $892.51 and its two-hundred day moving average is $885.29. The Goldman Sachs Group, Inc. has a 52 week low of $582.50 and a 52 week high of $1,005.36.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 14.13% and a return on equity of 16.53%. The company's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $14.12 earnings per share. Research analysts forecast that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Analyst Upgrades and Downgrades

GS has been the topic of several research reports. 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. UBS Group upped their target price on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. Citigroup upped their target price on shares of The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Evercore cut their target price on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating on the stock in a research note on Monday, April 6th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Nine research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $943.95.

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.

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