Curated Wealth Partners LLC trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 99.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,035 shares of the investment management company’s stock after selling 161,126 shares during the quarter. Curated Wealth Partners LLC’s holdings in The Goldman Sachs Group were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Orange County Employees Retirement System acquired a new position in The Goldman Sachs Group during the 2nd quarter valued at approximately $69,537,544,000. BlackRock Inc. bought a new position in The Goldman Sachs Group during the 2nd quarter worth $24,172,123,000. Bank of America Corp DE acquired a new stake in The Goldman Sachs Group in the second quarter worth $6,756,772,000. Bank of New York Mellon Corp acquired a new stake in The Goldman Sachs Group in the second quarter worth $2,560,028,000. Finally, Corient Private Wealth LLC increased its position in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after buying an additional 2,448,767 shares during the period. Institutional investors own 71.21% of the company’s stock.
Key Stories Impacting The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: New Buy rating: TD Cowen initiated coverage of GS with a Buy rating, providing fresh bullish support for the stock. TD Cowen initiates coverage of Goldman Sachs Group at Buy
- Positive Sentiment: Exceptional Q3 performance: Goldman reported $17.01 in earnings per share and $18.68 billion in revenue, exceeding estimates of $12.86 and $16.83 billion, respectively. Earnings rose 39% year over year, supported by a 72% increase in equities revenue, stronger investment-banking fees and record advisory activity. Wall Street earnings split
- Positive Sentiment: Growth opportunities remain substantial: Management pointed to strong deal pipelines, financing and wealth-management growth, elevated capital-markets activity and $4.1 trillion in assets under supervision. Goldman also declared a $5 quarterly dividend. Zacks Analyst Blog highlights Goldman Sachs
- Neutral Sentiment: CEO David Solomon said the underlying economy remains strong, but abrupt interest-rate moves are creating headwinds. Rising AI infrastructure costs and uncertainty around rates could temper future profitability. Goldman CEO discusses rate headwinds
- Negative Sentiment: Citigroup and RBC lowered their price targets and retained Neutral or Sector Perform ratings, signaling that strong results may already be reflected in the valuation. Analysts lower Goldman Sachs forecasts
- Negative Sentiment: Hotter inflation data has increased concern that interest rates may remain restrictive, weighing on bank valuations and dealmaking expectations. What Goldman Sachs sees next
The Goldman Sachs Group Stock Up 1.5%
GS opened at $891.51 on Friday. The Goldman Sachs Group, Inc. has a 12 month low of $740.01 and a 12 month high of $1,153.99. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.10 and a quick ratio of 0.63. The stock has a market cap of $259.58 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.97 and a beta of 1.29. The stock’s 50 day moving average price is $977.91 and its 200 day moving average price is $990.11.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The firm had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter in the previous year, the business earned $12.25 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current year.
The Goldman Sachs Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be paid a $5.00 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group’s dividend payout ratio is presently 28.76%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. UBS Group cut their target price on The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Keefe, Bruyette & Woods reduced their price target on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating for the company in a report on Wednesday. Rothschild & Co Redburn upped their price target on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Bank of America upped their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1,050.55.
Read Our Latest Analysis on The Goldman Sachs Group
The Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.
Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.
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