The Goldman Sachs Group, Inc. $GS Shares Sold by Essex LLC

Key Points

• Essex LLC cut its Goldman Sachs stake by 11% in the second quarter, selling 1,705 shares and retaining 13,786 shares worth approximately $13.9 million. Institutional investors and hedge funds own 71.21% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,062.86, despite mixed views ranging from “Strong Buy” to “Sell.”
• Goldman Sachs reported quarterly earnings of $20.98 per share and revenue of $20.34 billion, both above expectations, while raising its quarterly dividend to $5.00 per share from $4.50.

Essex LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,786 shares of the investment management company's stock after selling 1,705 shares during the quarter. The Goldman Sachs Group comprises approximately 2.1% of Essex LLC's investment portfolio, making the stock its 10th biggest holding. Essex LLC's holdings in The Goldman Sachs Group were worth $13,943,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Turim 21 Investimentos Ltda. purchased a new position in The Goldman Sachs Group during the 1st quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC boosted its holdings in The Goldman Sachs Group by 287.5% in 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 in the last quarter. Steph & Co. acquired a new stake in The Goldman Sachs Group in the first quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $29,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Barclays raised their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Oppenheimer cut The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a research report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,062.86.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs agreed to acquire ETF manager NEOS Investments for up to $2.25 billion in cash and equity. NEOS manages more than $30 billion across 19 options-based ETFs, giving Goldman an immediate presence in the fast-growing active ETF, income-generation and downside-management markets. The transaction is expected to close in the first quarter of 2027. Goldman Sachs to buy ETF manager NEOS in $2.25bn deal
• Positive Sentiment: The deal also adds NEOS’s Bitcoin- and Ethereum-linked income ETFs to Goldman’s product lineup, supporting its broader push into alternatives, digital assets and wealth-management products. Greater assets under management could provide recurring fee revenue over time. Goldman Sachs is paying $2.25 billion to get into Bitcoin income game
• Positive Sentiment: Goldman is reportedly courting banks, insurers, asset managers and private-credit firms to participate in Nvidia’s $500 billion AI infrastructure financing initiative. Its involvement could generate underwriting, placement and advisory fees while strengthening a longstanding relationship with Nvidia. Goldman Sachs Mobilizes Investors for Nvidia’s $500 Billion AI Infrastructure Push
• Neutral Sentiment: The latest news does not disclose Goldman’s expected revenue from either initiative. Investors may therefore focus on whether the substantial NEOS purchase price can translate into sufficient growth and whether the Nvidia financing can be executed without adding excessive risk.

The Goldman Sachs Group Trading Down 0.1%

NYSE GS opened at $1,038.81 on Monday. The Goldman Sachs Group, Inc. has a 1 year low of $705.55 and a 1 year high of $1,153.99. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $302.47 billion, a PE ratio of 16.03, a P/E/G ratio of 1.05 and a beta of 1.30. The company has a fifty day moving average of $1,054.35 and a 200 day moving average of $961.21.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping the consensus estimate of $14.47 by $6.51. The company had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the firm earned $10.91 EPS. Research analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 1.9%. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $4.50. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group's dividend payout ratio is 27.78%.

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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source