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Bank of America, Citi, and Goldman Sachs are optimistic about gold's potential, predicting prices could reach between $3,200 and $3,500 due to factors like China's investment policy and US economic concerns. In contrast, JPMorgan and UBS express bearish views on the S&P 500, forecasting significant pullbacks amid signs of consumer fatigue and economic downturn risks.
Alabama Attorney General Steve Marshall, along with a coalition of 17 states, has concluded an investigation into Wells Fargo's ESG policies after the bank withdrew from the Net-Zero Banking Alliance. The inquiry examined potential antitrust violations related to the banks' commitments to net-zero emissions by 2050 and interim targets for carbon-intensive industries by 2030. Marshall criticized the influence of global elites on financial institutions, asserting that their actions could undermine fiduciary duties to customers. The coalition will continue investigating the remaining banks involved.
Proxy adviser Glass Lewis has recommended that investors vote against the pay of Goldman Sachs executives, citing a lack of alignment between pay and performance, particularly criticizing the $160 million in retention awards for CEO David Solomon and President John Waldron. Goldman Sachs defended the compensation, stating that the stock-based grants are designed to retain leadership and support long-term shareholder value creation amid fierce competition for talent.
Glass Lewis has criticized Goldman Sachs for awarding $80 million bonuses to CEO David Solomon and President John Waldron, urging shareholders to reject the proposal due to concerns over the lack of performance conditions and transparency. The advisory firm highlighted that the bonuses, which are entirely stock-based, deviate from the bank's historical practices and could lead to a public rebuke if shareholders vote against them at the upcoming annual meeting. Additionally, shareholder support for executive pay at Goldman has declined, raising further concerns about investor sentiment.
Wells Fargo has lowered its price target for Goldman Sachs to $680 from $720 while maintaining an Overweight rating, citing a cautious Q1 outlook due to policy uncertainties. The firm has reduced its earnings estimates by 4% for Q1 and 2% through 2027, attributing this to a "degree of paralysis" affecting investment banking and loans. Despite these challenges, Wells Fargo remains bullish on the banking sector over the next year, highlighting significant deregulation.
Gold remains a premier investment choice for protecting wealth against inflation and economic uncertainties, making it essential for future planning. In recent transactions, CAO Sheara J. Fredman sold 2,034 shares of the firm’s stock, resulting in a 23.96% decrease in her holdings. Meanwhile, hedge funds have increased their stakes in The Goldman Sachs Group, with institutional investors now owning 71.21% of the stock.
Bessemer Group Inc. now holds 10,859 shares of Comerica, valued at $672,000, after acquiring 211 additional shares. V Square Quantitative Management LLC increased its stake by 36.7%, while US Bancorp DE boosted its holdings by 2.0%. Institutional investors own 80.74% of Comerica, which has a current price target of $67.00 from Wells Fargo, reflecting a potential upside of 14.46%. The stock has a consensus rating of "Hold" with a target price of $68.00, despite recent earnings missing estimates.
Proxy adviser Glass Lewis has recommended investors vote "against" the pay of Goldman Sachs executives, citing a lack of alignment between pay and performance. The firm criticized the $160 million in retention awards given to CEO David Solomon and President John Waldron as excessive, noting that the rationale provided in the proxy statement was insufficient.
Glass Lewis has advised investors to vote against the pay of Goldman Sachs executives, highlighting a disconnect between compensation and performance, particularly criticizing the $160 million in retention awards for CEO David Solomon and President John Waldron. The firm argues that these grants are necessary to retain talent and support long-term shareholder value, but Glass Lewis finds the justification lacking.
Proxy adviser Glass Lewis has recommended investors vote "against" the pay of Goldman Sachs executives, citing a lack of alignment between pay and performance. The firm criticized the $160 million in retention awards given to CEO David Solomon and President John Waldron as excessive, noting that the rationale provided in the proxy statement was insufficient.
The Goldman Sachs Group, Inc.
Companies
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gold prices expected to rise as analysts warn of stock market decline
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