The Goldman Sachs Group (NYSE:GS) Reaches New 1-Year High – What’s Next?

The Goldman Sachs Group, Inc. (NYSE:GS) hit a new 52-week high on Thursday . The stock traded as high as $992.50 and last traded at $996.7490, with a volume of 269748 shares. The stock had previously closed at $982.12.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs was selected as lead underwriter for SpaceX’s planned IPO, a highly visible mandate that reinforces GS’s role in elite capital markets deals and could support investment banking revenue. Goldman Hits the Jackpot After Banks’ ‘Dogfight’ to Lead SpaceX’s I.P.O.
• Positive Sentiment: Multiple reports highlighted Goldman’s strength in trading and investment banking, including stronger-than-expected first-quarter results, a bullish “stock to watch” note, and its role in additional financing and alternatives business. 1 Financials Stock to Target This Week and 2 Facing Headwinds
• Positive Sentiment: Goldman’s market calls remain influential, with articles noting its upbeat stance on names like McDonald’s and Enphase Energy, which underscores its continued visibility on Wall Street. Nvidia Just Did The Impossible: Wall Street Still Wants More
• Neutral Sentiment: Goldman also published research suggesting investors consider hedges amid stretched bullish sentiment, which reflects a cautious market backdrop rather than a direct hit to GS fundamentals. As bullish bets surge here’s the option play to protect portfolios from a likely pullback, says Goldman Sachs
• Negative Sentiment: Goldman agreed to pay $500 million to settle shareholder claims tied to the 1MDB scandal, which is a significant legal cost and a reminder of legacy litigation risk for GS. Goldman Sachs to pay $500 million to settle shareholder lawsuit over 1MDB scandal

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GS shares. Evercore decreased their target price on The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Citigroup lifted their target price on The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. BNP Paribas Exane decreased their target price on 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. Wells Fargo & Company decreased their target price on The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an “overweight” rating for the company in a report on Monday, April 13th. Finally, Weiss Ratings downgraded The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and an average price target of $943.95.

The Goldman Sachs Group Price Performance

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 stock has a market cap of $294.04 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.27 and a beta of 1.28. The stock has a fifty day moving average of $892.51 and a 200 day moving average of $884.59.

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, beating analysts’ consensus estimates 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 previous year, the company posted $14.12 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts expect that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The sale 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 business’s 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 completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 33,681 shares of company stock valued at $31,737,875. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in The Goldman Sachs Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock valued at $25,503,685,000 after acquiring an additional 418,820 shares during the period. State Street Corp lifted its holdings in The Goldman Sachs Group by 2.1% in the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock valued at $17,197,444,000 after acquiring an additional 394,198 shares during the period. Fisher Asset Management LLC lifted its holdings in The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock valued at $5,952,199,000 after acquiring an additional 110,134 shares during the period. Geode Capital Management LLC lifted its holdings in The Goldman Sachs Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after acquiring an additional 45,266 shares during the period. Finally, Bank of America Corp DE increased its position in shares of The Goldman Sachs Group by 8.0% in the first quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock valued at $5,460,875,000 after buying an additional 476,977 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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.