Dai ichi Life Insurance Company Ltd Lowers Position in The Goldman Sachs Group, Inc. $GS

Dai ichi Life Insurance Company Ltd lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,350 shares of the investment management company’s stock after selling 2,930 shares during the quarter. The Goldman Sachs Group comprises approximately 0.7% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its 29th largest holding. Dai ichi Life Insurance Company Ltd’s holdings in The Goldman Sachs Group were worth $23,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GS. Renaissance Technologies LLC bought a new stake in shares of The Goldman Sachs Group in the first quarter worth about $8,527,000. Bollard Group LLC boosted its stake in The Goldman Sachs Group by 0.5% during the first quarter. Bollard Group LLC now owns 11,768 shares of the investment management company’s stock valued at $9,955,000 after buying an additional 63 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in The Goldman Sachs Group by 1.3% during the first quarter. Public Employees Retirement System of Ohio now owns 123,608 shares of the investment management company’s stock valued at $104,571,000 after buying an additional 1,625 shares during the last quarter. Klingman & Associates LLC grew its holdings in The Goldman Sachs Group by 6.6% during the 1st quarter. Klingman & Associates LLC now owns 1,454 shares of the investment management company’s stock valued at $1,230,000 after buying an additional 90 shares in the last quarter. Finally, Modern Wealth Management LLC increased its stake in The Goldman Sachs Group by 18.4% in the 1st quarter. Modern Wealth Management LLC now owns 1,419 shares of the investment management company’s stock worth $1,220,000 after acquiring an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GS shares. Barclays upped their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1,061.43.

Key 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

Insider Transactions at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 31,450 shares of company stock worth $29,668,201. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $1,059.81 on Friday. The stock has a market cap of $312.65 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.09 and a beta of 1.30. 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 stock has a 50 day moving average price of $1,047.33 and a 200-day moving average price of $951.92. 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 released its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate of $14.47 by $6.51. The company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The Goldman Sachs Group’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.91 EPS. Equities analysts expect that The Goldman Sachs Group, Inc. will post 68.83 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group’s payout ratio is currently 30.87%.

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.