The Goldman Sachs Group, Inc. $GS Stock: Russell Investments Group Ltd. Raises Stake

Russell Investments Group Ltd. lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,719 shares of the investment management company’s stock after purchasing an additional 9,160 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of The Goldman Sachs Group worth $190,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Tortoise Investment Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.5% during the third quarter. Tortoise Investment Management LLC now owns 726 shares of the investment management company’s stock valued at $654,000 after buying an additional 18 shares during the last quarter. Endeavor Private Wealth Inc. raised its stake in shares of The Goldman Sachs Group by 4.4% in the third quarter. Endeavor Private Wealth Inc. now owns 428 shares of the investment management company’s stock worth $386,000 after purchasing an additional 18 shares during the last quarter. Spectrum Planning & Advisory Services Inc. lifted its holdings in shares of The Goldman Sachs Group by 14.6% during the third quarter. Spectrum Planning & Advisory Services Inc. now owns 598 shares of the investment management company’s stock valued at $539,000 after purchasing an additional 76 shares in the last quarter. CFM Wealth Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 0.7% during the third quarter. CFM Wealth Partners LLC now owns 4,570 shares of the investment management company’s stock valued at $4,115,000 after purchasing an additional 32 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in shares of The Goldman Sachs Group by 13.9% during the third quarter. Maryland State Retirement & Pension System now owns 17,715 shares of the investment management company’s stock valued at $15,950,000 after buying an additional 2,165 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Key Headlines Impacting The Goldman Sachs Group

Here are a few of the latest headlines about GS:

• Positive Sentiment: Goldman, HSBC and other banks are backing a $270 million stablecoin initiative, Project Faro, as banks seek to retain deposits amid competition from fintech and digital assets. The venture could create strategic opportunities, though its financial contribution to Goldman is not specified. Article: Goldman Sachs, Citi and Other Banks Commit $270M to Joint Stablecoin Venture
• Positive Sentiment: Goldman is participating in a reported $150 million Saudi financing deal, adding to its lending and financing activity. Article: Goldman, HSBC, Fortress Make Rare $150 Million Saudi Credit Bet
• Negative Sentiment: A Goldman survey found private-credit investors increasingly concerned about defaults, valuations and liquidity. That caution could weigh on private-credit activity and raises risks for lenders and investors exposed to the market. Article: Private Credit Investors Are Getting Nervous About Defaults, Goldman Sachs Survey Finds

The Goldman Sachs Group Trading Down 1.4%

Shares of GS stock opened at $914.16 on Friday. The stock has a fifty day simple moving average of $924.28 and a two-hundred day simple moving average of $956.09. The firm has a market capitalization of $263.67 billion, a PE ratio of 13.14, a PEG ratio of 0.87 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 52-week low of $754.00 and a 52-week high of $1,153.99. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.61 and a current ratio of 0.61.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same period in the prior year, the company posted $12.25 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, analysts predict that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced 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. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 28.76%.

Analyst Ratings Changes

A number of brokerages have weighed in on GS. Loop Capital set a $1,050.00 target price on The Goldman Sachs Group in a research report on Thursday, October 8th. Weiss Ratings cut shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. UBS Group lowered their target price on The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating on the stock in a report on Monday, November 2nd. BMO Capital Markets lowered their price objective on shares of The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating on the stock in a research note on Monday, October 19th. Finally, Citigroup reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1,052.04.

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 12,000 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were 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 represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ericka T. Leslie sold 250 shares of the company’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total transaction of $222,562.50. Following the sale, the insider directly owned 10,710 shares in the company, valued at approximately $9,534,577.50. The trade was a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,500 shares of company stock valued at $11,380,508 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

About The Goldman Sachs Group

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.