B.A. Schrock Wealth Management Inc. Makes New Investment in The Goldman Sachs Group, Inc. $GS

B.A. Schrock Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,122 shares of the investment management company’s stock, valued at approximately $1,006,000.

Several other large investors have also added to or reduced their stakes in GS. Nolet Wealth Management LLC grew its stake in shares of The Goldman Sachs Group by 13.1% in the 3rd quarter. Nolet Wealth Management LLC now owns 224 shares of the investment management company’s stock valued at $202,000 after buying an additional 26 shares during the period. Howard Financial Services LTD. raised its stake in The Goldman Sachs Group by 12.7% during the 3rd quarter. Howard Financial Services LTD. now owns 444 shares of the investment management company’s stock worth $399,000 after buying an additional 50 shares during the period. Hudock Inc. raised its stake in The Goldman Sachs Group by 2.0% during the 3rd quarter. Hudock Inc. now owns 1,444 shares of the investment management company’s stock worth $1,301,000 after buying an additional 28 shares during the period. Fortune 45 LLC boosted its holdings in The Goldman Sachs Group by 16.5% in the third quarter. Fortune 45 LLC now owns 1,567 shares of the investment management company’s stock worth $1,411,000 after acquiring an additional 222 shares in the last quarter. Finally, Reliant Investment Management LLC bought a new position in The Goldman Sachs Group in the third quarter worth approximately $8,508,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $877.07 on Thursday. The Goldman Sachs Group, Inc. has a 52-week low of $740.01 and a 52-week high of $1,153.99. The company has a 50-day simple moving average of $980.74 and a 200 day simple moving average of $989.49. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10. The company has a market capitalization of $255.38 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.98 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted 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 Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The business had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter in the prior year, the business earned $12.25 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be paid a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a dividend yield of 2.3%. The Goldman Sachs Group’s payout ratio is presently 30.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Cowen started coverage on The Goldman Sachs Group in a report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 price objective for the company. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their target price on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1,050.55.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs reported third-quarter EPS of $17.01 versus the $12.86 consensus estimate, while revenue rose 23% year over year to $18.68 billion, exceeding expectations. Net income increased 29% to $5.29 billion. Reuters earnings report
• Positive Sentiment: Equities revenue surged 72% to $6.44 billion, investment-banking fees climbed 21%, and wealth-management assets reached a record $2.1 trillion. The board also declared a $5-per-share quarterly dividend, and Goldman returned $4.49 billion to shareholders during the quarter. Zacks earnings analysis
• Positive Sentiment: CEO David Solomon described Goldman’s business as “big, durable and diverse,” said the underlying economy remains strong, and reiterated that no leadership succession transition is underway. Jim Cramer also identified GS as his favorite bank stock following the results. CNBC interview with David Solomon
• Neutral Sentiment: Citigroup cut its GS price target to $1,000 from $1,050 and retained a Neutral rating, while RBC lowered its target to $1,010 from $1,220 and assigned a Sector Perform rating. The targets still imply upside, but the reductions signal more cautious valuation expectations. Benzinga analyst target changes
• Negative Sentiment: Hotter-than-expected inflation data pressured financial stocks and raised concerns that interest rates could remain elevated. Solomon warned that abrupt rate moves could create headwinds, while analysts cited late-cycle risks and Goldman’s already-premium valuation. Benzinga analysis of GS weakness
• Negative Sentiment: A Treasury review found that major U.S. banks’ reputation-risk policies could allow political or social considerations to influence access to banking services. Although no company-specific action was announced, the findings could increase regulatory and reputational scrutiny for Goldman Sachs. CNBC Treasury review

The Goldman Sachs Group Company 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.