Heritage Family Offices LLP Sells 682 Shares of The Goldman Sachs Group, Inc. $GS

Heritage Family Offices LLP trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 70.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290 shares of the investment management company’s stock after selling 682 shares during the period. Heritage Family Offices LLP’s holdings in The Goldman Sachs Group were worth $261,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in The Goldman Sachs Group in the second quarter worth $24,172,123,000. Bank of America Corp DE acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at $6,756,772,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at $69,537,544,000. Bank of New York Mellon Corp acquired a new stake in shares of The Goldman Sachs Group in 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 in the first quarter valued at about $2,024,921,000. Institutional investors own 71.21% of the company’s stock.

Trending Headlines about The Goldman Sachs Group

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

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $865.88 on Friday. The business’s 50-day simple moving average is $932.40 and its 200 day simple moving average is $956.58. The stock has a market cap of $249.75 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.81 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 12-month low of $754.00 and a 12-month high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 0.61 and a debt-to-equity ratio of 3.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The firm had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned $12.25 earnings per share. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be paid a $5.00 dividend. This represents a $20.00 annualized dividend 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 (DPR) is 28.76%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. Loop Capital set a $1,050.00 price objective on shares of The Goldman Sachs Group in a research report on Thursday, October 8th. Bank of America boosted their target price 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. 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. Finally, Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $1,052.04.

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 12,000 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total value of $10,928,640.00. Following the transaction, the chief executive officer directly owned 159,180 shares in the company, valued at $144,968,409.60. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ericka T. Leslie sold 100 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $926.28, for a total transaction of $92,628.00. Following the completion of the transaction, the insider owned 10,460 shares in the company, valued at $9,688,888.80. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,500 shares of company stock valued at $11,380,508. 0.55% of the stock is owned by corporate 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.