Summit Wealth Partners LLC Invests $452,000 in The Goldman Sachs Group, Inc. $GS

Summit Wealth Partners LLC bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 534 shares of the investment management company’s stock, valued at approximately $452,000.

Several other large investors have also added to or reduced their stakes in the business. Clear Trail Advisors LLC boosted its stake in The Goldman Sachs Group by 1.5% during the 1st quarter. Clear Trail Advisors LLC now owns 5,803 shares of the investment management company’s stock valued at $4,910,000 after purchasing an additional 88 shares during the last quarter. Financial Management Network Inc. raised its stake in shares of The Goldman Sachs Group by 10.1% in the first quarter. Financial Management Network Inc. now owns 881 shares of the investment management company’s stock worth $796,000 after purchasing an additional 81 shares during the last quarter. Roxbury Financial LLC lifted its holdings in shares of The Goldman Sachs Group by 8.2% in the first quarter. Roxbury Financial LLC now owns 278 shares of the investment management company’s stock valued at $236,000 after purchasing an additional 21 shares in the last quarter. FFG Partners LLC bought a new position in shares of The Goldman Sachs Group in the first quarter valued at approximately $11,054,000. Finally, Clark Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 18.7% during the first quarter. Clark Asset Management LLC now owns 610 shares of the investment management company’s stock valued at $516,000 after buying an additional 96 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs’ equities trading revenue is expected to exceed $5 billion, pointing to a potential record quarter and stronger-than-expected trading results. Goldman Equities Haul to Rip Past 5 Billion Toward New Record
• Positive Sentiment: A separate report also said Goldman Sachs’ equities trading revenue is set to top $5 billion, reinforcing optimism around the firm’s trading franchise. Goldman Sachs equities trading revenue set to top 5B report
• Positive Sentiment: JPMorgan reportedly lifted its price target on Goldman Sachs and expects a strong trading-driven quarter, adding to sentiment that earnings could surprise to the upside. JPMorgan lifts Goldman Sachs GS target expects strong trading driven quarter
• Neutral Sentiment: Goldman Sachs analysts and strategists were active in the news cycle, including comments on AI valuations, oil demand, and recession odds, but these headlines are more about Goldman’s market views than a direct driver of GS shares. Investor assumptions about the AI trade are starting to stretch reality Goldman Sachs says
• Neutral Sentiment: The company also disclosed stakes in Qiagen and exited a stake in Resolute Mining, but those filings are unlikely to move GS stock meaningfully on their own. Goldman Sachs discloses 3.28 stake in Qiagen via shares and derivatives
• Neutral Sentiment: Goldman Sachs’ recession-risk cut to 15% and its work-from-home-for-the-World-Cup coverage are more macro or corporate-news items than direct stock catalysts. Goldman cuts U.S. recession risk to 15 percent after Iran deal

Insider Activity at The Goldman Sachs Group

In other 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 transaction of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This represents a 61.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 6,857 shares of the firm’s 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 sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,681 shares of company stock worth $31,737,875. 0.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. CICC Research increased their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. BNP Paribas Exane lowered their target price on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Weiss Ratings lowered shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company cut their price target on shares of The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday, April 13th. Nine equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and a consensus price target of $949.55.

The Goldman Sachs Group Stock Down 0.9%

Shares of NYSE:GS opened at $1,096.33 on Wednesday. The company has a market capitalization of $323.43 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.44 and a beta of 1.30. 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 business has a fifty day moving average price of $987.12 and a two-hundred day moving average price of $924.38. The Goldman Sachs Group, Inc. has a 1 year low of $653.23 and a 1 year high of $1,125.00.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $14.12 EPS. Analysts forecast that The Goldman Sachs Group, Inc. will post 59.6 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

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 issued a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is 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.