The Goldman Sachs Group, Inc. $GS Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 36.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,367 shares of the investment management company’s stock after selling 3,080 shares during the quarter. Triasima Portfolio Management inc.’s holdings in The Goldman Sachs Group were worth $4,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Audent Global Asset Management LLC lifted its stake in shares of The Goldman Sachs Group by 10.1% in the fourth quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after buying an additional 479 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of The Goldman Sachs Group during the second quarter valued at about $53,720,000. Oak Grove Capital LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $1,890,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of The Goldman Sachs Group by 14.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company’s stock valued at $17,606,000 after buying an additional 2,230 shares during the last quarter. Finally, Sax Wealth Advisors LLC increased its position in shares of The Goldman Sachs Group by 148.7% during the second quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company’s stock worth $3,569,000 after acquiring an additional 2,110 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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 Performance

NYSE GS opened at $891.51 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $740.01 and a 1 year 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 firm has a market cap of $259.58 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.97 and a beta of 1.29. The company has a fifty day moving average price of $977.91 and a 200-day moving average price of $990.11.

The Goldman Sachs Group (NYSE:GS) last announced its 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 company had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter in the prior year, the company posted $12.25 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 28.76%.

Analyst Ratings Changes

GS has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Bank of America lifted their price target on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Wells Fargo & Company decreased their price objective on The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating for the company in a report on Friday, September 25th. Finally, BMO Capital Markets lowered their price objective on The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $1,050.55.

The Goldman Sachs Group 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.