5 Dow Jones Stocks to Buy According to Hedge Funds

In this article, we will take a look at the 5 Dow Jones Stocks to Buy According to Hedge Funds. To read our analysis of the Dow Jones Industrial Average Index, its performance, and weighting of the components as well as the risk/reward and methodology of this list, you can go to the 10 Dow Jones Stocks to Buy According to Hedge Funds.

5. Goldman Sachs Group, Inc. (NYSE:GS)

Number of Hedge Fund Holders: 69

Goldman Sachs Group, Inc. (NYSE:GS), based in New York, is a leading global financial institution that provides financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments, and individuals.

In July, Goldman Sachs Group, Inc. (NYSE:GS) released its financial results for the quarter ended June 30, 2022. Its total net revenues decreased by 23% y-o-y to $11.9 billion, while its net earnings dipped by 47% y-o-y to $2.9 billion, for the three months. The normalized EPS was recorded at $7.73 per share, exceeding the consensus by $1.17.

In September, Deutsche Bank analyst Matt O’Connor lowered the price target on Goldman Sachs Group, Inc. (NYSE:GS) shares to $370 from $430 and maintained a ‘Hold’ rating on the shares.

As of Q2 2022, 69 of the 895 hedge funds tracked by Insider Monkey owned shares of Goldman Sachs Group, Inc. (NYSE:GS), valued at $4.6 billion. Boykin Curry’s Eagle Capital Management is its largest shareholder with ownership of 3.4 million shares valued at $1.0 billion.