Cynosure Group LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Cynosure Group LLC bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth quarter, HoldingsChannel reports. The fund bought 571 shares of the investment management company’s stock, valued at approximately $502,000.

A number of other hedge funds have also bought and sold shares of GS. Dagco Inc. purchased a new position in The Goldman Sachs Group in the 4th quarter worth about $25,000. Manning & Napier Advisors LLC raised its position in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after buying an additional 23 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth about $31,000. Cornerstone Financial Management LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth about $33,000. Finally, Entrust Financial LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs surpassed $1 trillion in year-to-date M&A advisory volume, signaling record-breaking deal activity and a stronger revenue outlook from investment banking. Goldman Sachs shatters dealmaking records with $1 trillion in first-half M&A volume
• Positive Sentiment: Goldman Sachs was tapped to lead SpaceX’s IPO, which could boost underwriting fees and serves as a high-profile sign that new listings may be returning. Goldman Sachs (GS) Lands SpaceX IPO Lead As New Listings Come Back Into Focus
• Positive Sentiment: Goldman Sachs’ record M&A pace and continued involvement in major financings are reinforcing investor expectations for stronger fee generation across its advisory and capital-markets businesses. Goldman Tops $1 Trillion of M&A, Fastest Ever to Reach the Mark
• Neutral Sentiment: Several articles referenced Goldman’s research and market commentary on oil, Chinese stocks, and AI themes, but these are more about the firm’s views than a direct business catalyst for GS shares. The peace deal is in the price: Goldman Sachs lowers its oil-price target to market levels

Analysts Set New Price Targets

A number of brokerages have weighed in on GS. Daiwa Securities Group boosted their target price on The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. BMO Capital Markets boosted their target price on The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a “market perform” rating in a research report on Monday, April 20th. Dbs Bank boosted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Evercore reduced their price target on shares of The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Finally, Royal Bank Of Canada reaffirmed a “neutral” rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and an average price target of $941.82.

Insider Activity

In related news, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alex S. Golten sold 1,116 shares of the 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 completion of the sale, the insider directly owned 2,578 shares of the company’s stock, valued at $2,413,472.04. This represents a 30.21% 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 valued at $31,737,875. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

NYSE GS opened at $1,090.03 on Wednesday. The Goldman Sachs Group, Inc. has a 52 week low of $623.00 and a 52 week high of $1,098.36. The firm has a market capitalization of $321.57 billion, a P/E ratio of 19.92, a PEG ratio of 1.40 and a beta of 1.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The company has a 50-day moving average price of $966.09 and a 200-day moving average price of $914.56.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same quarter in the prior year, the firm earned $14.12 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 59.08 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $18.00 annualized dividend and a dividend yield of 1.7%. 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.