The Goldman Sachs Group, Inc. $GS Holdings Trimmed by SVB Wealth LLC

SVB Wealth LLC decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 18.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,693 shares of the investment management company’s stock after selling 833 shares during the period. SVB Wealth LLC’s holdings in The Goldman Sachs Group were worth $3,326,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Turim 21 Investimentos Ltda. bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $25,000. Strive Financial Group LLC grew its position in shares of 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 worth $25,000 after buying an additional 19 shares during the period. BOK Financial Private Wealth Inc. grew its holdings in The Goldman Sachs Group by 188.9% in the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after purchasing an additional 17 shares during the period. Cherry Tree Wealth Management LLC grew its stake in shares of The Goldman Sachs Group by 100.0% in the 3rd quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock worth $27,000 after buying an additional 15 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth $33,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

GS opened at $914.16 on Friday. The company has a 50 day simple moving average of $924.28 and a two-hundred day simple moving average of $956.09. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $263.67 billion, a P/E ratio of 13.14, a PEG ratio of 0.87 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 1-year low of $754.00 and a 1-year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 firm had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 20.21%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the firm earned $12.25 EPS. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the sale, the chief executive officer directly owned 159,180 shares of the company’s stock, valued at $144,968,409.60. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ericka T. Leslie sold 250 shares of the business’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total value of $222,562.50. Following the completion of the transaction, the insider owned 10,710 shares in the company, valued at $9,534,577.50. The trade was a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,500 shares of company stock valued at $11,380,508 in the last ninety days. 0.55% of the stock is currently owned by insiders.

Key Stories Impacting The Goldman Sachs Group

Here are a few of the latest stories about GS:

• Positive Sentiment: Goldman, HSBC and other banks are backing a $270 million stablecoin initiative, Project Faro, as banks seek to retain deposits amid competition from fintech and digital assets. The venture could create strategic opportunities, though its financial contribution to Goldman is not specified. Article: Goldman Sachs, Citi and Other Banks Commit $270M to Joint Stablecoin Venture
• Positive Sentiment: Goldman is participating in a reported $150 million Saudi financing deal, adding to its lending and financing activity. Article: Goldman, HSBC, Fortress Make Rare $150 Million Saudi Credit Bet
• Neutral Sentiment: Goldman now expects additional Federal Reserve tightening, including a March rate hike, following hot inflation data. Higher rates can support some lending income, but may also pressure economic activity, markets and borrowers. Article: Why Goldman Sachs is now changing its Federal Reserve interest-rate forecast

Analyst Upgrades and Downgrades

GS has been the subject of several analyst reports. TD Cowen assumed coverage on shares of The Goldman Sachs Group in a research report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $955.00 to $970.00 and gave the stock a “neutral” rating in a research note on Friday, October 16th. Citigroup reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 14th. Weiss Ratings cut shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Finally, Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. One 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 company currently has a consensus rating of “Hold” and an average price target of $1,052.04.

The Goldman Sachs Group Profile

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.