Shares of Goldman Sachs Group, Inc. (NYSE:GS) sold by Federated Hermes Inc.

VaselineSeptember 15, 2024

0 5 minutes read

Federated Hermes Inc. reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 14.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,369 shares of the investment management company’s stock after selling 16,888 shares during the period. The shares held by Federated Hermes Inc. in The Goldman Sachs Group were worth $44,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth $1,903,374,000. Norges Bank acquired a new position in Goldman Sachs Group during the fourth quarter valued at approximately $1,120,119,000. AMF Tjanstepension AB boosted its holdings in The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after purchasing an additional 743,402 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of The Goldman Sachs Group by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after purchasing an additional 464,954 shares during the period. Finally, Verity & Verity LLC boosted its holdings in shares of The Goldman Sachs Group by 26,378.2% in the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after purchasing an additional 406,224 shares in the last quarter. 71.21% of the shares are held by hedge funds and other institutional investors.

Goldman Sachs Group Price Performance

Shares of GS opened at $478.99 on Friday. Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The firm has a market cap of $154.46 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.73 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72, and a quick ratio of 0.72. The company’s 50-day moving average is $490.33, and its two-hundred-day moving average is $451.20.

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Goldman Sachs Group (NYSE:GS – Get Free Report ) last posted its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping the consensus estimate of $8.52 by $0.10. Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current fiscal year.

Goldman Sachs Group increased dividends

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30. This represents a dividend of $12.00 on an annualized basis and a dividend yield of 2.51%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $2.75. Goldman Sachs Group’s payout ratio is currently 46.86%.

Insider work at The Goldman Sachs Group

In other Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In other news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the sale, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. 0.54% of shares are currently held by corporate insiders.

Analysts on Wall Street are forecasting an increase

GS has been the subject of several analyst reports. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Barclays boosted their price objective on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Citigroup raised their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company upped their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday , July 16. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $496.44.

See the latest stock analysis on Goldman Sachs Group

About the Goldman Sachs Group

(Free Report)

Goldman Sachs Group, Inc, a financial institution, provides a wide range of financial services to corporations, financial institutions, governments and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings and spin-offs; and relationship loans and acquisition financing, as well as secured loans, through structured credit and asset-backed loans and involved in financing under securities resale agreements.