The Goldman Sachs Group, Inc. $GS Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 10.9% in the third quarter, HoldingsChannel reports. The firm owned 218,239 shares of the investment management company’s stock after acquiring an additional 21,509 shares during the period. Pictet Asset Management Holding SA’s holdings in The Goldman Sachs Group were worth $196,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GS. BlackRock Inc. acquired a new position in shares of The Goldman Sachs Group during the second quarter worth approximately $24,172,123,000. Bank of America Corp DE acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $6,756,772,000. Orange County Employees Retirement System acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $69,537,544,000. Bank of New York Mellon Corp acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $2,560,028,000. Finally, International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $2,024,921,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
• Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
• Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
• Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff

Analysts Set New Price Targets

Several research firms have recently issued reports on GS. BMO Capital Markets decreased their price target on The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating for the company in a research note on Monday, October 19th. Wall Street Zen lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. Loop Capital set a $1,050.00 target price on shares of The Goldman Sachs Group in a report on Thursday, October 8th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and an average price target of $1,052.04.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $865.88 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 3.20. The stock has a market capitalization of $249.75 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.81 and a beta of 1.29. The stock’s fifty day simple moving average is $932.40 and its 200 day simple moving average is $956.58. The Goldman Sachs Group, Inc. has a 52-week low of $754.00 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $16.83 billion. During the same period in the previous year, the firm earned $12.25 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be given a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 28.76%.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David Solomon sold 12,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total value of $10,928,640.00. Following the transaction, the chief executive officer owned 159,180 shares of the company’s stock, valued at approximately $144,968,409.60. This trade represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ericka Leslie sold 250 shares of the business’s 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 sale, the insider owned 10,710 shares in the company, valued at approximately $9,534,577.50. The trade was a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,500 shares of company stock worth $11,380,508 in the last three months. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Company 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.

Goldman Sachs also provides consumer financial products and digital financial services.