First Trust Advisors LP Sells 45,998 Shares of The Goldman Sachs Group, Inc. $GS

First Trust Advisors LP lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 26.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,076 shares of the investment management company’s stock after selling 45,998 shares during the quarter. First Trust Advisors LP’s holdings in The Goldman Sachs Group were worth $110,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GS. Garton & Associates Financial Advisors LLC acquired a new position in The Goldman Sachs Group during the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC lifted 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 buying an additional 23 shares during the period. Steph & Co. acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $27,000. Lifetime Wealth Management P.C. bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $29,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter worth $31,000. 71.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 6,857 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction 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 $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 31,450 shares of company stock worth $29,668,201. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GS shares. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Rothschild & Co Redburn boosted their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Finally, Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1,061.43.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs posted record quarterly earnings per share of $20.98, with strong revenue and profit growth that reinforced the company’s earnings momentum and supported the stock’s valuation. David Solomon’s Goldman Sachs Just Posted a Record $20.98 in Quarterly Earnings Per Share. Here’s What Powered It.
• Positive Sentiment: Management is backing the Senate’s CLARITY Act for crypto market structure, which could help Goldman’s digital asset and trading businesses by creating clearer rules and a more favorable operating framework. Goldman Sachs CEO Supports Senate CLARITY Act Despite Industry Doubts
• Positive Sentiment: Several market commentary pieces highlighted Goldman Sachs as a strong momentum and long-term stock, which may be adding to bullish sentiment around the shares. Goldman Sachs (GS) is a Great Momentum Stock: Should You Buy?
• Positive Sentiment: Goldman launched a private markets platform for wealthy clients, expanding its alternatives offering and potentially opening a new fee-generating growth avenue. Goldman Sachs backs surprising non-AI stocks
• Neutral Sentiment: Recent articles about oil prices, portfolio positioning, and analyst notes mainly reflect Goldman Sachs’ market influence and research activity, but they are less directly tied to GS’s own earnings or fundamentals.

The Goldman Sachs Group Stock Down 2.2%

Shares of The Goldman Sachs Group stock opened at $1,074.56 on Friday. The firm has a market cap of $317.00 billion, a PE ratio of 16.59, a P/E/G ratio of 1.11 and a beta of 1.30. The business’s 50 day simple moving average is $1,045.13 and its 200 day simple moving average is $951.16. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.63 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a 52-week low of $694.05 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The company had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same period last year, the company earned $10.91 earnings per share. The firm’s revenue was up 39.4% compared to the same quarter last year. On average, analysts predict that The Goldman Sachs Group, Inc. will post 68.83 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 27.78%.

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.