The Goldman Sachs Group, Inc. $GS Stock Position Reduced by J. L. Bainbridge & Co. Inc.

Key Points

• J. L. Bainbridge & Co. Inc. trimmed its Goldman Sachs stake by 3.9% in the first quarter, though the position remains sizable at 85,062 shares worth about $71.96 million and is still its third-largest holding.
• Goldman Sachs reported strong quarterly results, with earnings per share of $17.55 beating estimates and revenue of $17.23 billion topping expectations, while revenue rose 14.4% from a year earlier.
• The company also announced a quarterly dividend of $4.50 per share, equal to $18.00 annually and a 1.8% yield, even as analysts currently rate the stock a consensus Hold with an average price target of $960.68.

J. L. Bainbridge & Co. Inc. lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,062 shares of the investment management company's stock after selling 3,440 shares during the quarter. The Goldman Sachs Group accounts for about 6.4% of J. L. Bainbridge & Co. Inc.'s holdings, making the stock its 3rd biggest position. J. L. Bainbridge & Co. Inc.'s holdings in The Goldman Sachs Group were worth $71,962,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC boosted its stake in shares of The Goldman Sachs Group by 19.9% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 897 shares of the investment management company's stock valued at $759,000 after buying an additional 149 shares during the period. Trilogy Capital Inc. grew its holdings in shares of The Goldman Sachs Group by 3.8% during the 1st quarter. Trilogy Capital Inc. now owns 5,116 shares of the investment management company's stock valued at $4,328,000 after acquiring an additional 187 shares in the last quarter. Braun Stacey Associates Inc. increased its stake in shares of The Goldman Sachs Group by 3.0% in the first quarter. Braun Stacey Associates Inc. now owns 35,229 shares of the investment management company's stock worth $29,803,000 after acquiring an additional 1,021 shares during the last quarter. Union Bancaire Privee UBP SA raised its holdings in shares of The Goldman Sachs Group by 18.2% during the first quarter. Union Bancaire Privee UBP SA now owns 101,591 shares of the investment management company's stock worth $78,255,000 after acquiring an additional 15,657 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. raised its holdings in shares of The Goldman Sachs Group by 0.5% during the first quarter. Beaumont Asset Management L.L.C. now owns 2,657 shares of the investment management company's stock worth $2,248,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 4.1%

Shares of NYSE:GS opened at $1,021.45 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $301.34 billion, a PE ratio of 18.67, a P/E/G ratio of 1.33 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1 year low of $685.39 and a 1 year high of $1,125.00. The firm has a fifty day moving average price of $996.38 and a 200 day moving average price of $928.21.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $16.66 billion. During the same period last year, the company earned $14.12 earnings per share. The business's revenue was up 14.4% compared to the same quarter last year. Analysts expect that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

Key The Goldman Sachs Group News

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

Analysts Set New Price Targets

A number of research analysts have commented on GS shares. Royal Bank Of Canada restated a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Bank of America cut their price target on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Citigroup lifted their price target on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a "neutral" rating in a report on Tuesday. Jefferies Financial Group lowered their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Finally, Evercore dropped their price objective on The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating on the stock in a report on Monday, April 6th. Nine investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and an average price target of $960.68.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the 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 transaction, the chief accounting officer owned 6,338 shares in the company, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 over the last 90 days. 0.55% of the stock is currently owned by insiders.

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.

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