The Goldman Sachs Group, Inc. $GS Stock Position Cut by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,430 shares of the investment management company’s stock after selling 611 shares during the period. The Goldman Sachs Group accounts for about 1.7% of KMG Fiduciary Partners LLC’s portfolio, making the stock its 15th largest holding. KMG Fiduciary Partners LLC’s holdings in The Goldman Sachs Group were worth $18,395,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Salem Investment Counselors Inc. raised its position in shares of The Goldman Sachs Group by 0.8% in the third quarter. Salem Investment Counselors Inc. now owns 6,611 shares of the investment management company’s stock valued at $5,952,000 after buying an additional 53 shares during the last quarter. Signal Advisors Wealth LLC lifted its stake in shares of The Goldman Sachs Group by 1.5% in the third quarter. Signal Advisors Wealth LLC now owns 1,176 shares of the investment management company’s stock worth $1,059,000 after buying an additional 17 shares in the last quarter. Krilogy Financial LLC boosted its position in The Goldman Sachs Group by 15.4% during the third quarter. Krilogy Financial LLC now owns 3,638 shares of the investment management company’s stock worth $3,252,000 after acquiring an additional 486 shares during the last quarter. Edge Wealth Management LLC boosted its position in The Goldman Sachs Group by 39.6% during the third quarter. Edge Wealth Management LLC now owns 532 shares of the investment management company’s stock worth $480,000 after acquiring an additional 151 shares during the last quarter. Finally, Mechanics Bank Trust Department boosted its position in The Goldman Sachs Group by 1.8% during the third quarter. Mechanics Bank Trust Department now owns 3,968 shares of the investment management company’s stock worth $3,573,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.2%

NYSE GS opened at $892.43 on Wednesday. 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 quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The business’s fifty day simple moving average is $984.44 and its 200-day simple moving average is $989.10. The firm has a market cap of $259.85 billion, a PE ratio of 13.77, a P/E/G ratio of 0.98 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. During the same quarter in the previous year, the company posted $12.25 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 67.48 earnings per share 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 dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a yield of 2.2%. The Goldman Sachs Group’s payout ratio is 30.87%.

Wall Street Analyst Weigh In

GS has been the subject of several research reports. 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. TD Cowen initiated coverage on shares of The Goldman Sachs Group in a research note on Thursday, October 8th. They issued a “buy” rating and a $1,050.00 target price on the stock. Barclays boosted their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley set a $1,145.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. Finally, UBS Group dropped their price target on The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1,055.09.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Major earnings beat: Third-quarter revenue rose 23% year over year to $18.68 billion, while net income increased 29% to $5.29 billion. Diluted EPS of $17.01 exceeded the $12.86 consensus estimate by $4.15. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Equities and investment banking led results: Equities trading revenue surged 72% to $6.44 billion, supported by stronger financing and derivatives activity. Investment-banking fees rose 21% as underwriting and dealmaking recovered. Goldman Q3 Earnings Beat on Strong Equities and IB Revenues
• Positive Sentiment: Wealth management reached a new record: Goldman supervised $2.1 trillion in wealth-management assets and conducted its largest-ever private-wealth-advisor training class, supporting the firm’s longer-term asset-gathering strategy. Goldman Sachs Supervised $2.1 Trillion in Wealth Management Assets
• Neutral Sentiment: CEO David Solomon said there is no succession transition or timetable underway, removing an immediate leadership overhang. He also described Goldman as well positioned despite geopolitical and economic uncertainty. Goldman Sachs profits jump as CEO says no plans to exit
• Negative Sentiment: Mixed business quality and valuation concerns: Fixed-income and rates trading fell short of expectations, total revenue declined sequentially from the prior quarter, and analysts argue the stock already reflects a premium valuation. Persistent inflation, elevated interest rates, geopolitical risks and uncertainty around AI-related financing could also pressure activity and multiples. Goldman Sachs Q3: The Business Deserves a Premium. The Stock Already Has One

The Goldman Sachs Group 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.