The Goldman Sachs Group, Inc. $GS Stock: Kestra Advisory Services LLC Raises Holdings

Kestra Advisory Services LLC increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,803 shares of the investment management company’s stock after buying an additional 4,107 shares during the quarter. Kestra Advisory Services LLC’s holdings in The Goldman Sachs Group were worth $79,054,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at $24,172,123,000. Bank of America Corp DE bought a new position in shares of The Goldman Sachs Group in the second quarter worth $6,756,772,000. Orange County Employees Retirement System bought a new position in shares of The Goldman Sachs Group in the second quarter worth $69,537,544,000. Bank of New York Mellon Corp bought a new position in shares of The Goldman Sachs Group in the second quarter worth $2,560,028,000. Finally, International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter valued at $2,024,921,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs and Apollo Global Management have begun marketing a reported $40 billion financing deal tied to SpaceX’s AI and chip plans. If completed, arranging and syndicating the financing could generate fees for Goldman, though the deal is still being marketed. Article: Goldman Sachs, Apollo Begin Marketing SpaceX Financing Deal
• Neutral Sentiment: The firm promoted 109 bankers to partner, including a record number of engineers. The appointments highlight investment in technical talent, but the news is unlikely to materially affect near-term results. Article: Goldman Sachs Elevates Record Number of Engineers to Partner Ranks
• Negative Sentiment: Goldman’s trading desk reported that buyers were scarce as technology shares sold off and major U.S. indexes fell. The risk-off environment likely weighed on GS along with the broader market. Article: Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff
• Negative Sentiment: Democrats’ control of Congress could slow the Trump administration’s financial deregulation agenda and bring more scrutiny to banks, creating a potentially less favorable policy outlook for Goldman. Article: Midterm Election Results and Financial Stocks

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GS. Keefe, Bruyette & Woods cut their price objective 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. Loop Capital set a $1,050.00 target price on shares of The Goldman Sachs Group in a research report on Thursday, October 8th. Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. UBS Group lowered their target price on shares of The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, TD Cowen began 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 on the stock. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,052.04.

The Goldman Sachs Group Stock Performance

GS opened at $868.39 on Friday. The business has a 50 day moving average price of $935.89 and a two-hundred day moving average price of $956.96. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.63. The company has a market capitalization of $250.48 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth 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 issued its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The company had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. During the same period last year, the firm earned $12.25 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts predict that The Goldman Sachs Group, Inc. will post 71.49 EPS 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 paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 28.76%.

Insider Activity

In related news, CEO David 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 completion of the transaction, the chief executive officer 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ericka Leslie sold 250 shares of The Goldman Sachs Group stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total value of $222,562.50. Following the transaction, the insider directly owned 10,710 shares in the company, valued at approximately $9,534,577.50. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,500 shares of company stock valued at $11,380,508 in the last ninety days. Company insiders own 0.55% of the company’s stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.