BlackRock Doubles Down on Goldman Sachs with Massive Stock Purchase
BlackRock Inc., a leading financial services company, has made a significant investment in The Goldman Sachs Group, Inc. (GS). According to its most recent 13F filing with the Securities and Exchange Commission (SEC), BlackRock bought 23,900,376 shares of GS's stock in the second quarter, valued at approximately $24,172,123,000.
This acquisition makes BlackRock one of the largest shareholders of GS, owning 8.21% of the company's stock. Other institutional investors have also increased their holdings in GS during the same period, including Turim 21 Investimentos Ltda., Garton & Associates Financial Advisors LLC, Manning & Napier Advisors LLC, and Lifetime Wealth Management P.C.
GS has been performing well, with a price of $1,002.64 per share as of Friday's opening bell. The company's core businesses include investment banking, global markets, asset and wealth management, and consumer banking. GS has also announced a quarterly dividend of $5.00 per share for its shareholders.