Huntington National Bank Raises Stake in The Goldman Sachs Group, Inc. $GS

Huntington National Bank lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,469 shares of the investment management company’s stock after buying an additional 12,786 shares during the quarter. Huntington National Bank’s holdings in The Goldman Sachs Group were worth $130,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dagco Inc. purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC grew its holdings in The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 23 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Entrust Financial LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC grew its holdings in The Goldman Sachs Group by 51.5% in the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs increased its S&P 500 outlook to 8,000, signaling confidence in earnings momentum and helping reinforce a constructive market backdrop. MarketWatch article
• Positive Sentiment: Goldman’s AI-related research continues to get traction, with its call that Nvidia and Micron are major beneficiaries of the next earnings cycle strengthening Goldman’s visibility in one of the market’s hottest themes. Benzinga article
• Positive Sentiment: SpaceX chose Goldman Sachs as lead underwriter for its planned IPO, a potentially landmark mandate that highlights Goldman’s strength in high-profile capital markets deals. Seeking Alpha article
• Neutral Sentiment: Several companies announced presentations at Goldman Sachs’ upcoming Global Healthcare Conference, which supports the firm’s event pipeline but is unlikely to move GS shares by itself. Business Insider article
• Neutral Sentiment: Coverage about Goldman’s analysts discussing Treasury demand, European equities, and AI bottlenecks mostly reflects the firm’s macro research activity rather than a direct business catalyst for GS stock. Financial Post article

Insider Buying and Selling 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 transaction of $1,044,776.88. Following 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. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Trading Up 0.1%

Shares of GS stock opened at $995.28 on Thursday. The stock has a market cap of $293.62 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $592.17 and a fifty-two week high of $1,016.53. The firm’s 50 day moving average price is $904.97 and its two-hundred day moving average price is $889.62.

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 for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The firm had revenue of $17.23 billion for the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The Goldman Sachs Group’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $14.12 earnings per share. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 EPS 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. Shareholders of record on Monday, June 1st will be given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s payout ratio is 32.89%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GS shares. CICC Research boosted their target price on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Daiwa Securities Group boosted their target price on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. HSBC boosted their target price on shares of The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Rothschild & Co Redburn boosted their target price on shares of The Goldman Sachs Group from $839.00 to $870.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, Jefferies Financial Group lowered their target price on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a report on Monday, April 6th. Nine investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $943.95.

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.