The Goldman Sachs Group, Inc. $GS Shares Sold by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,439 shares of the investment management company’s stock after selling 677 shares during the quarter. Trinity Legacy Partners LLC’s holdings in The Goldman Sachs Group were worth $5,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $2,515,830,000. Corient Private Wealth LLC increased its stake in The Goldman Sachs Group by 1,657.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after buying an additional 2,448,767 shares during the period. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at $2,024,921,000. Bank of America Corp DE raised its position in The Goldman Sachs Group by 8.0% during the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock worth $5,460,875,000 after buying an additional 476,977 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in The Goldman Sachs Group by 428.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after buying an additional 450,984 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on GS shares. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. HSBC upgraded shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Weiss Ratings raised The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. CICC Research boosted their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,062.86.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman’s view that a September rate hike is unlikely helped lift broader risk sentiment and could benefit GS through stronger trading, capital-markets and dealmaking conditions. The firm also said markets may still be too hawkish as inflation cools. Odds of Fed Rate Hike This Year Fall as Goldman Sachs Warns Against Hawkish Bets
• Positive Sentiment: GS remains positioned as a potential earnings outperformer: analysts identified it among five highly ranked stocks expected to beat consensus estimates in upcoming results. That view follows the company’s latest quarterly report, which significantly exceeded earnings and revenue expectations. Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
• Neutral Sentiment: Goldman’s research highlighted that artificial intelligence was mentioned by 65% of S&P 500 companies during second-quarter earnings calls, but only a small fraction quantified its earnings impact. The finding reinforces GS’s role in AI-related market research while suggesting that near-term corporate profit benefits remain uncertain. 65% of S&P 500 companies mentioned AI on Q2 earnings calls
• Negative Sentiment: Goldman warned that consumer-spending growth could become sluggish as the boost from higher tax refunds fades. A consumer slowdown could weigh on economic activity, credit demand and investor confidence, partially offsetting the benefits of easier financial conditions. Goldman Sachs warns of consumer spending slowdown as tax refund boost fades

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,050.79 on Tuesday. The company has a 50-day simple moving average of $1,054.45 and a 200-day simple moving average of $962.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The company has a market capitalization of $305.96 billion, a PE ratio of 16.22, a P/E/G ratio of 1.05 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52-week low of $705.55 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 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 19.16%. The firm had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter in the previous year, the firm earned $10.91 earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business 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 dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is 27.78%.

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.