The Goldman Sachs Group (NYSE:GS) Stock Price Down 1.2% – What’s Next?

The Goldman Sachs Group, Inc. (NYSE:GS) was down 1.2% during mid-day trading on Friday. The stock traded as low as $876.81 and last traded at $880.4810. 2,323,102 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 2,221,057 shares. The stock had previously closed at $891.28.

More 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 net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
• Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
• Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
• Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
• Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
• Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
• Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $955.00 to $970.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen assumed coverage on shares of The Goldman Sachs Group in a report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 price target for the company. Bank of America lifted their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Oppenheimer downgraded shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Finally, BMO Capital Markets cut their price objective on shares of The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating on the stock in a report on Tuesday, October 6th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $1,051.23.

The Goldman Sachs Group Trading Down 1.2%

The company has a current ratio of 1.10, a quick ratio of 0.63 and a debt-to-equity ratio of 2.82. The company has a market cap of $256.37 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29. The firm has a 50-day moving average price of $974.71 and a 200 day moving average price of $989.34.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. During the same period last year, the business 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, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 69.57 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be given a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 28.76%.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in The Goldman Sachs Group in the second quarter worth $24,172,123,000. Bank of America Corp DE acquired a new position in shares of The Goldman Sachs Group during the second quarter valued at $6,756,772,000. Orange County Employees Retirement System acquired a new position in shares of The Goldman Sachs Group during the second quarter valued at $69,537,544,000. Bank of New York Mellon Corp acquired a new position in shares of The Goldman Sachs Group during the second quarter valued at $2,560,028,000. Finally, International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group during the first quarter worth about $2,024,921,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

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.