The Goldman Sachs Group, Inc. $GS Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its Goldman Sachs stake by 3.5% in the fourth quarter, adding 5,908 shares and bringing its total holding to 175,941 shares worth about $154.8 million.
• Goldman Sachs reported strong recent operating results, with Q1 earnings of $17.55 per share and revenue of $17.23 billion, both above analyst expectations; revenue also rose 14.4% year over year.
• The company highlighted several favorable business developments, including more than $1 trillion in year-to-date M&A advisory volume and being chosen to lead SpaceX’s IPO, which could support future fees and underwriting revenue.

Russell Investments Group Ltd. boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,941 shares of the investment management company's stock after buying an additional 5,908 shares during the period. Russell Investments Group Ltd. owned 0.06% of The Goldman Sachs Group worth $154,813,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC raised its holdings in The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after buying an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at about $31,000. Cornerstone Financial Management LLC acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $33,000. Finally, Entrust Financial LLC acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. JPMorgan Chase & Co. increased their target price on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a "neutral" rating in a research report on Friday, June 12th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Bank of America lowered their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Nine equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and an average target price of $941.82.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs surpassed $1 trillion in year-to-date M&A advisory volume, signaling record-breaking deal activity and a stronger revenue outlook from investment banking. Goldman Sachs shatters dealmaking records with $1 trillion in first-half M&A volume
• Positive Sentiment: Goldman Sachs was tapped to lead SpaceX’s IPO, which could boost underwriting fees and serves as a high-profile sign that new listings may be returning. Goldman Sachs (GS) Lands SpaceX IPO Lead As New Listings Come Back Into Focus
• Positive Sentiment: Goldman Sachs’ record M&A pace and continued involvement in major financings are reinforcing investor expectations for stronger fee generation across its advisory and capital-markets businesses. Goldman Tops $1 Trillion of M&A, Fastest Ever to Reach the Mark
• Neutral Sentiment: Several articles referenced Goldman’s research and market commentary on oil, Chinese stocks, and AI themes, but these are more about the firm’s views than a direct business catalyst for GS shares. The peace deal is in the price: Goldman Sachs lowers its oil-price target to market levels

Insider Buying and Selling

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction that occurred 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 transaction, the insider owned 15,657 shares of the company's stock, valued at $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the business'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 owned 6,338 shares of the company's stock, valued at $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Up 1.3%

The Goldman Sachs Group stock opened at $1,090.03 on Wednesday. The Goldman Sachs Group, Inc. has a one year low of $623.00 and a one year high of $1,098.36. The company's fifty day moving average price is $966.09 and its two-hundred day moving average price is $914.56. 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 company has a market capitalization of $321.57 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.40 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released 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 company had revenue of $17.23 billion during the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The firm's 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. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 59.08 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

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.

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.