J. L. Bainbridge & Co. Inc. Reduces Position in The Goldman Sachs Group, Inc. $GS

J. L. Bainbridge & Co. Inc. lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 89,692 shares of the investment management company’s stock after selling 787 shares during the period. The Goldman Sachs Group makes up approximately 6.0% of J. L. Bainbridge & Co. Inc.’s holdings, making the stock its 3rd largest position. J. L. Bainbridge & Co. Inc.’s holdings in The Goldman Sachs Group were worth $71,427,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its position in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. Fisher Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 3.6% during the second quarter. Fisher Asset Management LLC now owns 6,539,746 shares of the investment management company’s stock worth $4,628,507,000 after purchasing an additional 227,604 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of The Goldman Sachs Group by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock worth $2,392,124,000 after acquiring an additional 157,473 shares during the last quarter. Norges Bank bought a new stake in The Goldman Sachs Group during the 2nd quarter worth about $2,138,031,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock valued at $1,138,527,000 after buying an additional 120,272 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $907.94 on Friday. The firm’s fifty day moving average price is $823.96 and its two-hundred day moving average price is $764.24. The stock has a market cap of $272.32 billion, a PE ratio of 18.44, a PEG ratio of 1.19 and a beta of 1.36. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.65 and a current ratio of 0.65. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $919.10.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The company had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the company earned $8.40 EPS. The Goldman Sachs Group’s revenue was up 19.5% compared to the same quarter last year. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Key Stores Impacting The Goldman Sachs Group

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

• Positive Sentiment: High-profile endorsement: TV investor Jim Cramer says he holds GS in a charitable trust and highlights the stock’s strong YTD gain and benefits from market activity and lower rates, a sentiment booster for retail investors. I Have Goldman Sachs (GS) in My Charitable Trust, Says Jim Cramer
• Neutral Sentiment: Research product — AT&T outlook: Goldman Sachs’ analysts forecast AT&T will accelerate buybacks as free cash flow grows; this is a sell-side call that underscores GS’s ongoing research revenue stream but is not a direct corporate catalyst for GS shares. Goldman Sachs Forecasts AT&T (T) Buyback Ramp-Up Fueled by 8% Free Cash Flow Growth
• Neutral Sentiment: Macro/research insight on layoffs: Goldman research finds investor reactions to layoffs have shifted (stocks now decline on average after cuts). This strengthens GS’s franchise as a market commentator but doesn’t directly move GS’s fundamentals. Goldman Sachs expects layoffs to keep rising—and says investors are punishing the stocks of companies that slash staff
• Neutral Sentiment: 1MDB courtroom development: Former Malaysian PM Najib Razak convicted in the 1MDB scandal; historically linked cases can keep legal/regulatory risks in public view, but this specific conviction is not a new direct exposure for GS. Former Malaysian Prime Minister Najib Razak convicted in trial over 1MDB corruption scandal
• Negative Sentiment: Private-credit troubles: The WSJ reports Goldman’s private-credit business is struggling to unwind soured loans and reposition portfolios, which could weigh on fee income, raise mark-to-market losses for alternatives, and increase investor scrutiny of GS’s asset-management unit. This is a direct portfolio/earnings risk. Goldman Sachs’s Private-Credit Company Struggles to Clean Up Soured Bets
• Negative Sentiment: Third‑party data breach risk: Goldman alerted some alternative-fund investors that client data may have been exposed after a cybersecurity incident at law firm Fried Frank, raising reputational, client‑notification and potential legal costs. Investors often react negatively to operational/cyber risks. Goldman Sachs Says Some Client Data May Have Been Exposed in Third-Party Data Breach

Analyst Ratings Changes

A number of equities analysts have issued reports on GS shares. Evercore ISI raised their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. HSBC lifted their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Daiwa Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. BMO Capital Markets assumed coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price target for the company. Finally, Morgan Stanley dropped their target price on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus target price of $792.67.

About The Goldman Sachs Group

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.