The Goldman Sachs Group, Inc. $GS Shares Sold by Matrix Asset Advisors Inc. NY

Key Points

• Matrix Asset Advisors Inc. NY reduced its stake in Goldman Sachs by 9.4% in the first quarter, selling 2,635 shares and leaving it with 25,361 shares valued at about $21.5 million.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 beating estimates and revenue of $17.23 billion topping expectations; revenue rose 14.4% year over year.
• The company also announced a quarterly dividend of $4.50 per share and saw notable insider selling, including sales by CFO Denis P. Coleman and CAO Sheara J. Fredman over the last several weeks.

Matrix Asset Advisors Inc. NY lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,361 shares of the investment management company's stock after selling 2,635 shares during the quarter. The Goldman Sachs Group accounts for approximately 2.0% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 20th largest position. Matrix Asset Advisors Inc. NY's holdings in The Goldman Sachs Group were worth $21,455,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GS. Dagco Inc. acquired a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its holdings in shares of 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 valued at $27,000 after buying an additional 23 shares in the last quarter. Steph & Co. bought a new position in shares of The Goldman Sachs Group in the first quarter valued at $27,000. Finally, Lifetime Wealth Management P.C. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $29,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

NYSE GS opened at $1,021.45 on Monday. The company has a 50 day simple moving average of $996.38 and a 200-day simple moving average of $928.65. 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 firm has a market capitalization of $301.34 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52-week low of $685.39 and a 52-week high of $1,125.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate 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 net margin of 14.13% and a return on equity of 16.53%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $14.12 earnings per share. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 59.6 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 paid 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 dividend yield of 1.8%. The Goldman Sachs Group's dividend payout ratio (DPR) is 32.89%.

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares of the company's stock, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 33,681 shares of company stock worth $31,737,875. Corporate insiders own 0.55% of the company's stock.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs highlighted three stocks positioned to benefit from the projected $757 billion AI capex supercycle, reinforcing its influence and constructive stance on major growth themes. Goldman Sachs Predicts 3 Stocks to Benefit Most From $757B AI’s Capex Supercycle
• Positive Sentiment: Investors are looking ahead to Goldman Sachs’ second-quarter earnings, with expectations for double-digit earnings growth, which could support sentiment if results confirm strength in trading and investment banking. Here's What to Expect From Goldman Sachs’ Next Earnings Report
• Neutral Sentiment: Rothschild & Co Redburn raised its price target on Goldman Sachs but maintained a neutral rating, suggesting the shares may be fairly valued after their run-up. MarketScreener report on Rothschild & Co Redburn target change
• Neutral Sentiment: Goldman Sachs remains in the market spotlight, with investors heavily searching the stock and watching for catalysts, but this is more a sentiment indicator than a direct fundamental driver. Investors Heavily Search The Goldman Sachs Group, Inc. (GS): Here is What You Need to Know

Analyst Upgrades and Downgrades

GS has been the subject of several research reports. HSBC raised their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. BMO Capital Markets upped their target price on The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a report on Monday, April 20th. BNP Paribas Exane decreased their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research report on Friday, April 24th. Finally, Citigroup lifted their price target on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 23rd. Nine research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $960.68.

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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