10 Best Holding Company Stocks To Buy Now

9. The Goldman Sachs Group, Inc. (NYSE:GS)

Number of Hedge Fund Holders: 68

The Goldman Sachs Group, Inc. (NYSE:GS) is one of the largest investment banking companies that specializes in banking, asset management, and wealth management. The holding company owns several subsidiaries including Folio Financial, GreenSky LLC, The Ayco Company L P, and NN Investment Partners.

In the second quarter of 2024, the company logged $12.73 billion in revenue and $3.04 billion in earnings. Its global banking and markets segment generated $8.18 billion in revenue, backed by higher returns from equities. During the same quarter, the company’s assets under supervision reached $2.93 trillion, of which $86 billion worth of assets came from Q2 2024.

The Goldman Sachs Group, Inc. (NYSE:GS) is notorious for its acquisitions and mergers, explaining why the company was ranked first in Worldwide Announced and Completed Mergers and Acquisitions. So far in 2024, the company closed the acquisition of Xpress Wellness LLC, a healthcare services provider to rural communities. In addition to that, last month, Goldman Sachs also made a minority investment in SePRO,  a water solutions company.

Overall, The Goldman Sachs Group, Inc. (NYSE:GS) is one of the best holding stocks to buy now and we say that because of its large clientele and solid expansion strategy. Analysts 12-month median price target of $528.5 points to a 6% upside from current levels. Overall, GS was held by 68 hedge funds at the close of Q2 2024 and Fisher Asset Management was the largest shareholder with a position worth $2.66 billion.

Ariel Investments’ Ariel Appreciation Fund stated the following regarding The Goldman Sachs Group, Inc. (NYSE:GS) in its Q2 2024 investor letter:

“Shares of global investment bank, The Goldman Sachs Group, Inc. (NYSE:GS), also rose in the period following solid earnings results, highlighted by strength in fixed income, currencies 1 Sindreu, Jon. “The Second Quarter Split the Market.” The Wall Street Journal, July 1, 2024, p. B9. and commodities (FICC) as well as equities trading and better-than-expected investment banking fees. Meanwhile, GS continues to successfully execute on its strategic initiatives to improve the overall return of the company. It is right sizing headcount and narrowing its ambitions in consumer strategy through divestitures and working to improve profitability in Platform Solutions by 2025. With the possibility of increased capital requirements from its regulators, GS plans to reign in buybacks over the short-term but maintain its dividend. Looking ahead, we continue to view the near and long-term outlook for Goldman as attractive, given favorable business trends, continued positive momentum on strategic initiatives and active expense/capital management programs.”