8,848 Shares in The Goldman Sachs Group, Inc. $GS Acquired by Rice Partnership LLC

Rice Partnership LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the 1st quarter, Holdings Channel.com reports. The fund purchased 8,848 shares of the investment management company’s stock, valued at approximately $7,485,000. The Goldman Sachs Group makes up 1.0% of Rice Partnership LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GS. Norges Bank acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $2,515,830,000. Corient Private Wealth LLC raised its stake in shares of The Goldman Sachs Group by 1,657.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after acquiring an additional 2,448,767 shares during the period. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $2,024,921,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The Goldman Sachs Group by 428.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock valued at $488,947,000 after acquiring an additional 450,984 shares in the last quarter. Finally, Diamant Asset Management Inc. boosted its position in The Goldman Sachs Group by 84,499.0% during the 1st quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company’s stock worth $35,785,000 after purchasing an additional 422,495 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $1,054.16 on Tuesday. The Goldman Sachs Group, Inc. has a 12-month low of $691.88 and a 12-month high of $1,153.99. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The company has a market capitalization of $310.99 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.30. The firm’s fifty day moving average price is $1,037.38 and its 200 day moving average price is $947.02.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $10.91 EPS. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 66.83 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $5.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.78%.

Insiders Place Their Bets

In other news, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the sale, the insider directly owned 2,578 shares of the company’s stock, valued at $2,413,472.04. The trade was a 30.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,566 shares of company stock worth $30,712,978 in the last quarter. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs’ research and market commentary are reinforcing a constructive view on the bank sector, with articles highlighting strong Q2 beats, double-digit earnings growth expectations, and attractive non-AI investment themes. This can help sentiment around GS as investors rotate toward financials and away from crowded tech trades. Zacks Market Edge Highlights: Goldman Sachs, Wells Fargo, JPMorgan Chase , Citigroup and Bank of America
• Positive Sentiment: Goldman Sachs is also getting attention for highlighting “non-AI” winners and for noting that hedge funds are trimming tech exposure at a record pace, which suggests a possible sector rotation into value and financials. That backdrop may be helping GS outperform broader market caution around tech. Buy These Five Non-AI Stocks, Says Goldman Sachs (GS)
• Positive Sentiment: Several reports point to Goldman Sachs’ strong positioning and successful calls around market themes, including recommendations tied to the cooling AI trade. That can boost confidence in GS as a research leader and a beneficiary of active trading and advisory activity. Scared of the AI trade? Here are three investment themes instead, says Goldman Sachs
• Neutral Sentiment: Goldman Sachs also reported on inflation broadening out, which is a macro observation rather than a direct company catalyst. It may influence rate expectations and bank-sector trading, but the impact on GS is indirect. Inflation is broadening out, says Goldman economist
• Neutral Sentiment: The firm announced a proposed public offering of depositary shares / preferred stock. While this strengthens funding flexibility, investors may also see it as a mild overhang because it can increase share count or signal balance-sheet management needs. Goldman Sachs Plans New Preferred Stock Offering
• Negative Sentiment: Goldman Sachs’ warning that hedge funds are selling U.S. tech stocks at a record pace underscores rising market volatility and a more cautious risk backdrop. Even if that rotation helps banks relatively, it can still make investors more defensive overall. Goldman Says Hedge Funds Sell US Tech Stocks at Record Pace

Analyst Ratings Changes

Several research firms have commented on GS. Daiwa Securities Group raised their price objective on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research upgraded The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Wells Fargo & Company raised 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 report on Wednesday, July 15th. Finally, Bank of America boosted their price target on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $1,061.43.

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.