The Goldman Sachs Group, Inc. $GS Stock: Ethic Inc. Cuts Holdings

Ethic Inc. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 43,819 shares of the investment management company’s stock after selling 7,669 shares during the period. The Goldman Sachs Group comprises approximately 0.4% of Ethic Inc.’s portfolio, making the stock its 29th biggest position. Ethic Inc.’s holdings in The Goldman Sachs Group were worth $39,453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strive Financial Group LLC boosted its position in shares of The Goldman Sachs Group by 316.7% during the second quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. BOK Financial Private Wealth Inc. grew its holdings in The Goldman Sachs Group by 188.9% during the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after buying an additional 17 shares in the last quarter. Turim 21 Investimentos Ltda. purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $25,000. Cherry Tree Wealth Management LLC lifted its stake in The Goldman Sachs Group by 100.0% during the 3rd quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 15 shares in the last quarter. Finally, Clearstead Trust LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter worth $33,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $865.88 on Friday. The business’s fifty day simple moving average is $932.40 and its 200 day simple moving average is $956.58. The company has a current ratio of 0.61, a quick ratio of 0.63 and a debt-to-equity ratio of 3.20. The Goldman Sachs Group, Inc. has a 12 month low of $754.00 and a 12 month high of $1,153.99. The firm has a market capitalization of $249.75 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.81 and a beta of 1.29.

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, beating 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 firm had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter in the prior year, the company earned $12.25 EPS. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

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 issued a $5.00 dividend. 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 payout ratio is 28.76%.

Analyst Ratings Changes

GS has been the subject of several recent analyst reports. Loop Capital set a $1,050.00 target price on shares of The Goldman Sachs Group in a research note on Thursday, October 8th. UBS Group dropped their price target 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 report on Monday, November 2nd. BMO Capital Markets cut their price target on shares of The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating on the stock in a report on Monday, October 19th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. Finally, Wells Fargo & Company reduced their price objective on shares of The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating for the company in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $1,052.04.

More The Goldman Sachs Group News

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

Insider Transactions at The Goldman Sachs Group

In related news, insider Ericka Leslie sold 250 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the transaction, the insider owned 10,710 shares in the company, valued at approximately $9,534,577.50. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, 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 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 over the last three months. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group 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.