Howe & Rusling Inc. Has $15.47 Million Holdings in The Goldman Sachs Group, Inc. $GS

Howe & Rusling Inc. cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.8% in the first quarter, HoldingsChannel reports. The fund owned 18,282 shares of the investment management company’s stock after selling 1,773 shares during the period. The Goldman Sachs Group accounts for 1.0% of Howe & Rusling Inc.’s holdings, making the stock its 25th largest position. Howe & Rusling Inc.’s holdings in The Goldman Sachs Group were worth $15,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of GS. Audent Global Asset Management LLC lifted its stake in shares of The Goldman Sachs Group by 10.1% in the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after purchasing an additional 479 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of The Goldman Sachs Group by 3.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 215,482 shares of the investment management company’s stock worth $189,409,000 after purchasing an additional 8,154 shares during the period. Rathbones Group PLC grew its stake in shares of The Goldman Sachs Group by 12.6% during the third quarter. Rathbones Group PLC now owns 276,364 shares of the investment management company’s stock worth $220,082,000 after purchasing an additional 30,825 shares during the period. Oak Grove Capital LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $1,890,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in The Goldman Sachs Group by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company’s stock valued at $124,809,000 after purchasing an additional 3,653 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GS. Evercore reduced their target price 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. Rothschild & Co Redburn upped their price target on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. 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. Jefferies Financial Group reduced 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 research note on Monday, April 6th. Finally, Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $974.18.

Key Stories 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

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the transaction, the insider owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,681 shares of company stock valued at $31,737,875. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Up 0.1%

NYSE:GS opened at $1,022.00 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $691.30 and a 1 year high of $1,125.00. 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 cap of $301.50 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.32 and a beta of 1.30. The stock has a 50-day moving average price of $1,005.83 and a two-hundred day moving average price of $932.87.

The Goldman Sachs Group (NYSE:GS) 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 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 during the quarter, compared to the consensus estimate of $16.66 billion. During the same period in the prior year, the company earned $14.12 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities analysts expect that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is 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.