Chevy Chase Trust Holdings LLC Sells 23,753 Shares of The Goldman Sachs Group, Inc. $GS

Chevy Chase Trust Holdings LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 461,328 shares of the investment management company’s stock after selling 23,753 shares during the period. The Goldman Sachs Group accounts for 1.0% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 14th biggest position. Chevy Chase Trust Holdings LLC’s holdings in The Goldman Sachs Group were worth $367,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GS. Harbor Capital Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at $26,000. First PREMIER Bank bought a new position in shares of The Goldman Sachs Group in the 3rd quarter worth about $28,000. Corundum Trust Company INC purchased a new position in The Goldman Sachs Group during the 3rd quarter valued at about $29,000. Clearstead Trust LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at about $31,000. Finally, Elevation Wealth Partners LLC boosted its stake in The Goldman Sachs Group by 100.0% during the third quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other 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: Goldman highlights that the current energy supply shock should spur investment in grid infrastructure and storage — a potential source of advisory, underwriting and asset-management fees for GS. Current energy supply shock will drive investment into grid infrastructure and storage solutions: GS
• Positive Sentiment: Several pieces note GS is deeply oversold technically and that analysts remain constructive (recent price-targets above current levels), which could support a relief rally if markets stabilize or capital-markets activity picks up. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Neutral Sentiment: Governance update — board member Lakshmi Mittal announced retirement. Routine board turnover can be relevant for long-term governance but is unlikely to drive immediate price action. Goldman Sachs Announces Retirement of Board Member Mittal
• Neutral Sentiment: Goldman trimmed a derivative-based stake in Siemens Energy to just under 5% — a portfolio move that signals repositioning but is not a major earnings driver for GS itself. Goldman Sachs Trims Derivative-Based Stake in Siemens Energy to Just Under 5%
• Negative Sentiment: Immediate sell pressure was linked to investor worries about the stability of the private credit market after a key bank announcement — contagion concerns in private markets tend to hit large universal banks and asset managers. Why Goldman Sachs (GS) Shares Are Sliding Today
• Negative Sentiment: Goldman’s elevated oil-price forecasts and widespread supply-shock commentary (Brent near $100+ forecasts and warning of much higher spikes) have helped push Treasury yields and a risk-off tone — that environment has weighed on financials and contributed to GS’s intraday weakness. Goldman Sachs forecasts oil at $100 a barrel for March
• Negative Sentiment: Macroeconomic outlook shifts — Goldman pushed back its Fed rate-cut timeline (now expecting cuts later in the year), which, together with oil-driven inflation risk, is keeping markets cautious and depressing risk assets including bank stocks. Goldman now sees first Fed rate cut in September, not June

Wall Street Analyst Weigh In

GS has been the topic of a number of recent research reports. HSBC upped their price objective on shares of The Goldman Sachs Group from $742.00 to $802.00 in a report on Friday, February 6th. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $970.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Barclays upped their price target on The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $980.00 to $985.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Finally, UBS Group reiterated a “neutral” rating and set a $990.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $919.29.

Insider Buying and Selling

In related news, insider Kathryn H. Ruemmler sold 9,589 shares of The Goldman Sachs Group stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the transaction, the insider directly owned 18,533 shares in the company, valued at approximately $17,189,542.83. The trade was a 34.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Viniar sold 45,000 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $965.33, for a total value of $43,439,850.00. Following the sale, the director directly owned 555,000 shares of the company’s stock, valued at $535,758,150. This represents a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 117,283 shares of company stock worth $112,016,033 in the last quarter. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $781.99 on Friday. The firm has a 50 day moving average of $910.83 and a 200 day moving average of $843.68. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $232.06 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $984.70.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, topping the consensus estimate of $11.52 by $2.03. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.30 billion. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.72%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $11.95 earnings per share. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be paid a $4.50 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The ex-dividend date is Monday, March 2nd. This represents a $18.00 annualized dividend and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.09%.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.