Waycross Partners LLC Has $47.49 Million Holdings in The Goldman Sachs Group, Inc. $GS

Waycross Partners LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,137 shares of the investment management company’s stock after selling 2,909 shares during the period. The Goldman Sachs Group accounts for 4.5% of Waycross Partners LLC’s holdings, making the stock its 6th largest holding. Waycross Partners LLC’s holdings in The Goldman Sachs Group were worth $47,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. Dagco Inc. bought a new stake in The Goldman Sachs Group during the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 287.5% during 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 in the last quarter. Steph & Co. acquired a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $29,000. 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 was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

Insider Activity

In related news, insider Alex S. Golten sold 1,116 shares of the business’s stock in a transaction 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 transaction, the insider owned 2,578 shares in the company, valued at $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction 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 owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,566 shares of company stock valued at $30,712,978. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS opened at $1,066.28 on Monday. The business has a 50-day moving average of $1,035.20 and a 200-day moving average of $945.82. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The company has a market capitalization of $314.56 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1 year low of $691.88 and a 1 year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The firm’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the business posted $10.91 earnings per share. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 66.83 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a $5.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio is presently 27.78%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GS shares. CICC Research upped their price objective on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a report on Wednesday. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday. Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Finally, BNP Paribas Exane cut their price target on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $1,061.43.

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.