Cannell & Spears LLC Sells 825 Shares of The Goldman Sachs Group, Inc. $GS

Cannell & Spears LLC lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,011 shares of the investment management company’s stock after selling 825 shares during the period. Cannell & Spears LLC’s holdings in The Goldman Sachs Group were worth $5,005,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GS. Garton & Associates Financial Advisors LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth $26,000. Manning & Napier Advisors LLC raised its stake in shares of 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 stake in shares of The Goldman Sachs Group during the 1st quarter valued at $27,000. Lifetime Wealth Management P.C. purchased a new stake in The Goldman Sachs Group during the 4th quarter worth about $29,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter worth about $31,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Dbs Bank lifted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. BNP Paribas Exane cut their price objective on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. BMO Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a “market perform” rating in a research note on Wednesday, July 15th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $1,061.43.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,059.81 on Friday. The company’s fifty day moving average price is $1,047.33 and its 200-day moving average price is $951.92. 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 firm has a market capitalization of $312.65 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.08 and a beta of 1.30. The Goldman Sachs Group, Inc. has a one year low of $694.05 and a one year 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, topping 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 during the quarter, compared to the consensus estimate of $16.22 billion. During the same period in the previous year, the firm posted $10.91 EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. On average, equities research analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 1.9%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio is presently 27.78%.

Insider Transactions at The Goldman Sachs Group

In other 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 value of $6,675,632.35. Following the completion of the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the transaction, the insider owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 31,450 shares of company stock worth $29,668,201. 0.55% of the stock is currently owned by corporate insiders.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs was highlighted on a momentum screen using the Driehaus strategy, with strong earnings and favorable price trends supporting the stock’s bullish setup. 3 High-Momentum Stocks to Buy Now Before They Surge
• Positive Sentiment: Investors are reacting to follow-up coverage on Goldman Sachs’ blowout Q2 results, with articles pointing to continued earnings momentum and the potential for further upside after the record quarter. What’s next for Goldman Sachs after its blowout Q2 earnings?
• Positive Sentiment: Goldman Sachs is expanding into private markets for wealthy clients, including access to pre-IPO opportunities, which could open a new revenue stream and strengthen its wealth-management franchise. Goldman Sachs Wants Its Wealthy Clients in on the Next SpaceX Before It Goes Public
• Positive Sentiment: Goldman Sachs’ CEO also backed the Senate’s CLARITY Act on crypto market structure, signaling support for clearer rules that could benefit its digital-asset and trading businesses over time. Goldman Sachs CEO backs ‘not perfect’ CLARITY Act as vote expected soon
• Neutral Sentiment: Goldman Sachs also appeared in several analyst and market commentary pieces calling it a strong momentum or long-term stock, reinforcing positive sentiment but without adding new hard catalysts. Goldman Sachs (GS) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: Macro headlines about rising oil, inflation concerns, and a stronger dollar may be creating some offsetting caution for the broader market, though these are not Goldman-specific negatives. Global Inflation Angst Is Back With $100 Oil and More Tariffs

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.