Resona Asset Management Co. Ltd. Grows Stake in The Goldman Sachs Group, Inc. $GS

Resona Asset Management Co. Ltd. raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,499 shares of the investment management company’s stock after buying an additional 1,254 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in The Goldman Sachs Group were worth $76,752,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dagco Inc. purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new position in The Goldman Sachs Group during the 4th quarter valued at $26,000. Manning & Napier Advisors LLC increased its position in The Goldman Sachs Group by 287.5% during the 4th 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. Steph & Co. bought a new position in The Goldman Sachs Group in the 1st quarter worth $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Alex S. Golten sold 1,116 shares of the business’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 value 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’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 sale, the insider owned 15,657 shares in the company, valued at $14,703,018.99. The trade was a 47.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,681 shares of company stock worth $31,737,875 in the last ninety days. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of The Goldman Sachs Group from $972.00 to $1,070.00 and gave the company a “market perform” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. Bank of America raised their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the stock a “buy” rating in a report on Tuesday. CICC Research lifted their price objective 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. Finally, Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $986.91.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs is being cited as a beneficiary of a stronger second quarter for Wall Street banks, with analysts saying a trading surge — helped by the SpaceX IPO and solid M&A activity — could lift results when GS reports earnings next week. Article Title
• Positive Sentiment: Bank of America raised its price target on GS to $1,150 and kept a Buy rating, while UBS also lifted its target, reinforcing bullish sentiment ahead of earnings. Article Title
• Positive Sentiment: Multiple previews ahead of the July 14 earnings report say Goldman Sachs could post earnings growth, with expectations centered on strong trading and investment banking revenue. Article Title
• Positive Sentiment: Goldman Sachs is also highlighting long-term growth opportunities in private markets, saying it sees a $2 trillion opportunity and wants to scale alternative assets under supervision to $750 billion by 2030. Article Title
• Neutral Sentiment: Goldman Sachs continues to issue market calls and research across sectors, including a bullish view on Nvidia, a favorable take on Meta, and revised commodity and currency forecasts, which mostly reflects the firm’s influence as a market strategist rather than a direct catalyst for GS shares. Article Title
• Negative Sentiment: One article noted Goldman’s own strategists have warned that leverage is building in markets and that hedge funds are reducing tech exposure, which could signal a more cautious backdrop for risk assets if volatility rises. Article Title

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,028.92 on Thursday. The Goldman Sachs Group, Inc. has a 12 month low of $691.30 and a 12 month high of $1,125.00. The stock has a market cap of $303.54 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The company’s fifty day moving average price is $1,012.40 and its 200-day moving average price is $936.67.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $14.12 EPS. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is 32.89%.

About The Goldman Sachs Group

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.