Commonwealth Equity Services LLC decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,806 shares of the investment management company’s stock after selling 2,493 shares during the period. Commonwealth Equity Services LLC’s holdings in The Goldman Sachs Group were worth $78,157,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GS. Turim 21 Investimentos Ltda. acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Strive Financial Group LLC raised its stake in The Goldman Sachs Group by 316.7% in the 2nd quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 19 shares during the period. BOK Financial Private Wealth Inc. lifted its holdings in The Goldman Sachs Group by 188.9% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 17 shares during the last quarter. Cherry Tree Wealth Management LLC boosted its position in The Goldman Sachs Group by 100.0% during the third quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock worth $27,000 after purchasing an additional 15 shares during the period. Finally, Clearstead Trust LLC acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at $33,000. 71.21% of the stock is owned by institutional investors and hedge funds.
The Goldman Sachs Group Stock Performance
Shares of GS traded down $3.07 during midday trading on Friday, reaching $865.88. 2,481,265 shares of the stock were exchanged, compared to its average volume of 2,283,557. The stock’s 50 day simple moving average is $932.40 and its 200 day simple moving average is $956.58. The company has a market cap of $252.12 billion, a P/E ratio of 12.45, a PEG ratio of 0.85 and a beta of 1.29. The Goldman Sachs Group, Inc. has a twelve month low of $754.00 and a twelve month high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same period in the prior year, the company posted $12.25 earnings per share. The Goldman Sachs Group’s revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current year.
The Goldman Sachs Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be given a dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio is currently 28.76%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on GS. Barclays raised their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their price target on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 14th. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, BMO Capital Markets reduced their price objective on The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating for the company in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1,052.04.
View Our Latest Research Report on GS
Key Stories Impacting The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
- Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
- Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
- Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff
Insiders Place Their Bets
In related news, CEO David Solomon sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total value of $10,928,640.00. Following the completion of the transaction, the chief executive officer owned 159,180 shares of the company’s stock, valued at $144,968,409.60. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ericka Leslie sold 100 shares of the company’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total transaction of $92,628.00. Following the sale, the insider directly owned 10,460 shares of the company’s stock, valued at $9,688,888.80. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 12,500 shares of company stock valued at $11,380,508. Corporate insiders own 0.55% of the company’s stock.
About The Goldman Sachs Group
The Goldman Sachs Group, Inc is a global financial services firm founded in 1869 and headquartered in New York City. It serves corporations, financial institutions, governments and individuals across major financial markets worldwide.
The company’s businesses include investment banking, global markets, and asset and wealth management. Its services include advising on mergers and acquisitions and other strategic transactions, helping clients raise capital, facilitating trading and risk management, and managing investments and wealth for institutions and individuals.
Goldman Sachs also provides consumer financial products and digital financial services.
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