The Goldman Sachs Group (NYSE:GS) Stock Sold Off Sen. David McCormick

Senator David McCormick (R-Pennsylvania) recently sold shares of The Goldman Sachs Group, Inc. (NYSE:GS). In a filing disclosed on March 29th, the Senator disclosed that they had sold between $1,000,001 and $5,000,000 in The Goldman Sachs Group stock on February 28th.

Senator David McCormick also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 3/20/2025.
• Purchased $15,001 – $50,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 3/13/2025.
• Purchased $15,001 – $50,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 3/11/2025.
• Purchased $50,001 – $100,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 3/10/2025.
• Purchased $15,001 – $50,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 3/5/2025.
• Purchased $50,001 – $100,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 3/3/2025.
• Purchased $15,001 – $50,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 2/28/2025.
• Purchased $50,001 – $100,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 2/27/2025.
• Purchased $15,001 – $50,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 2/26/2025.
• Purchased $50,001 – $100,000 in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) on 2/25/2025.

The Goldman Sachs Group Trading Down 2.8 %

Shares of NYSE GS opened at $543.04 on Friday. The firm’s 50 day moving average price is $608.15 and its 200-day moving average price is $571.66. The Goldman Sachs Group, Inc. has a 52-week low of $387.12 and a 52-week high of $672.19. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $169.45 billion, a PE ratio of 13.39, a P/E/G ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.48 EPS. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GS shares. Oppenheimer downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. Morgan Stanley reduced their price target on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Citigroup cut their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, UBS Group increased their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $590.60.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GS. Norges Bank bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $1,603,315,000. Castlekeep Investment Advisors LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $944,334,000. Raymond James Financial Inc. bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $624,844,000. Proficio Capital Partners LLC grew its holdings in The Goldman Sachs Group by 14,007.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock valued at $606,815,000 after buying an additional 1,052,204 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of The Goldman Sachs Group by 214.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company’s stock valued at $741,018,000 after buying an additional 882,099 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In related news, Treasurer Carey Halio sold 3,640 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $636.74, for a total value of $2,317,733.60. Following the sale, the treasurer now directly owns 4,552 shares in the company, valued at approximately $2,898,440.48. The trade was a 44.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin R. Johnson acquired 2,400 shares of The Goldman Sachs Group stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the purchase, the director now owns 2,400 shares in the company, valued at approximately $1,485,648. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 19,925 shares of company stock valued at $12,630,683. 0.55% of the stock is currently owned by corporate insiders.

About Senator McCormick

David McCormick (Republican Party) is a member of the U.S. Senate from Pennsylvania. He assumed office on January 3, 2025. His current term ends on January 3, 2031.

McCormick (Republican Party) ran for election to the U.S. Senate to represent Pennsylvania. He won in the general election on November 5, 2024.

David McCormick was born in Washington, Pennsylvania, and lives in Pennsylvania. He served in the U.S. Army 82nd Airborne Division as a paratrooper, during which time he was deployed to the Middle East during the First Gulf War and reached the rank of Captain. McCormick received his bachelor’s degree in mechanical engineering from the United States Military Academy at West Point and his Ph.D. in international affairs from Princeton University. His professional experience includes working as the CEO of a tech startup and of Bridgewater Associates, an investment management firm, and under secretary in both the Department of Commerce and the Department of the Treasury.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for 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 lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.