The Goldman Sachs Group, Inc. $GS Stock: Providence First Trust Co Decreases Holdings

Providence First Trust Co reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 33.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,260 shares of the investment management company’s stock after selling 633 shares during the quarter. Providence First Trust Co’s holdings in The Goldman Sachs Group were worth $1,134,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GS. Turim 21 Investimentos Ltda. purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $25,000. Strive Financial Group LLC boosted its position in 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 worth $25,000 after purchasing an additional 19 shares in the last quarter. BOK Financial Private Wealth Inc. boosted its position 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 purchasing an additional 17 shares in the last quarter. Cherry Tree Wealth Management LLC grew its holdings in The Goldman Sachs Group by 100.0% in the third quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 15 shares during the period. Finally, Clearstead Trust LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at approximately $33,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GS has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut their price objective on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 14th. 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 research note on Wednesday, October 28th. Bank of America lifted their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Wells Fargo & Company cut their target price 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 note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $1,052.04.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded down $3.07 during midday trading on Friday, hitting $865.88. The stock had a trading volume of 2,481,265 shares, compared to its average volume of 2,283,557. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82. The stock has a 50 day simple moving average of $932.40 and a 200-day simple moving average of $956.58. The company has a market capitalization of $252.12 billion, a PE ratio of 12.45, a P/E/G ratio of 0.85 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 1 year low of $754.00 and a 1 year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, topping the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The firm had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $16.83 billion. During the same period in the previous year, the business earned $12.25 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm 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. This represents a $20.00 annualized dividend and a 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%.

Insiders Place Their Bets

In other news, CEO David M. Solomon sold 12,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $144,968,409.60. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ericka T. Leslie sold 100 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total transaction of $92,628.00. Following the transaction, the insider owned 10,460 shares in the company, valued at $9,688,888.80. The trade was a 0.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,500 shares of company stock valued at $11,380,508 in the last ninety days. Insiders own 0.55% 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

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.