The Goldman Sachs Group, Inc. $GS Stock Position Raised by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Goldman Sachs stake by 1.6% in the first quarter, ending with 64,977 shares worth about $54.97 million.
• Insiders have been selling shares: CFO Denis P. Coleman and CAO Sheara J. Fredman both made notable sales, and Goldman insiders sold 33,681 shares worth about $31.7 million over the last three months.
• Analysts remain mixed on GS, with multiple firms raising price targets but the overall consensus staying at “Hold”; MarketBeat reports an average price target of $974.18.

QRG Capital Management Inc. increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,977 shares of the investment management company's stock after acquiring an additional 1,049 shares during the quarter. The Goldman Sachs Group makes up approximately 0.6% of QRG Capital Management Inc.'s holdings, making the stock its 28th biggest holding. QRG Capital Management Inc.'s holdings in The Goldman Sachs Group were worth $54,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC boosted its position 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 valued at $27,000 after purchasing an additional 23 shares during the period. Steph & Co. bought a new position in The Goldman Sachs Group during the 1st quarter worth $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in The Goldman Sachs Group during the 4th quarter worth $29,000. Institutional investors own 71.21% of the company's stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the company's stock in a transaction that occurred 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 directly 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. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GS. BMO Capital Markets increased their target price on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the stock a "market perform" rating in a research report on Monday, June 29th. Dbs Bank boosted their price target on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Jefferies Financial Group dropped their price objective on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Finally, Citigroup lifted their price objective on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 23rd. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $974.18.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs’ private credit fund reportedly continued to avoid meaningful redemption pressure, which supports confidence in one of the firm’s growing asset-management businesses. Redemption Pressures Remain Low at This Goldman Private Credit Fund
• Positive Sentiment: Goldman’s economists said AI could displace about 9% of the U.S. workforce, reinforcing the bank’s visibility on a major macro trend and keeping Goldman in the middle of market conversation. AI Will Displace 9% of the U.S. Workforce, Warns Goldman Economist
• Positive Sentiment: Goldman’s top strategist said investors are rotating within equities, with Europe and non-mega-cap areas holding up well, suggesting the firm remains influential on current portfolio positioning. Goldman’s Top Strategist Says Europe Is Quietly Keeping Pace With the S&P 500
• Neutral Sentiment: Goldman disclosed a derivative-based 2.9% stake and a 3.65% voting interest in Qiagen, but this appears to be a portfolio disclosure rather than a direct catalyst for GS shares. Goldman Sachs reports 2.9% stake in Qiagen via derivatives
• Neutral Sentiment: Financial stocks were broadly higher in late trading, which likely provided a sector tailwind for Goldman Sachs rather than a company-specific move. Sector Update: Financial Stocks Advance Late Afternoon

The Goldman Sachs Group Stock Up 0.1%

Shares of The Goldman Sachs Group stock opened at $1,022.00 on Friday. The business's fifty day moving average price is $1,005.83 and its two-hundred day moving average price is $932.87. 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 $301.50 billion, a P/E ratio of 18.68, a PEG ratio of 1.32 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1-year low of $691.30 and a 1-year high of $1,125.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly 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 Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same quarter in the previous year, the firm posted $14.12 EPS. The firm's quarterly revenue was up 14.4% on a year-over-year basis. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 60.18 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were issued a $4.50 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $18.00 annualized dividend and a yield of 1.8%. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.

The Goldman Sachs Group Company 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.

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.