International Private Wealth Advisors LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,964 shares of the investment management company’s stock, valued at approximately $1,768,000.
Several other large investors have also recently added to or reduced their stakes in the business. Orange County Employees Retirement System acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $69,537,544,000. BlackRock Inc. acquired a new position in shares of The Goldman Sachs Group in the second quarter worth $24,172,123,000. Bank of America Corp DE acquired a new position in shares of The Goldman Sachs Group in the second quarter worth $6,756,772,000. Bank of New York Mellon Corp acquired a new position in shares of The Goldman Sachs Group in the second quarter worth $2,560,028,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of The Goldman Sachs Group by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,840,675 shares of the investment management company’s stock worth $1,556,706,000 after acquiring an additional 9,770 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on GS shares. Barclays increased their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note 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. Wells Fargo & Company lowered their target price on 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. Keefe, Bruyette & Woods lowered their target price on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. Finally, Loop Capital set a $1,050.00 price target on The Goldman Sachs Group in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1,052.04.
Check Out Our Latest Analysis on The Goldman Sachs Group
The Goldman Sachs Group Stock Performance
NYSE:GS opened at $927.11 on Thursday. 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 debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market capitalization of $267.41 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.29. The business’s fifty day moving average price is $926.09 and its 200 day moving average price is $956.18.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The company had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The Goldman Sachs Group’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the business earned $12.25 EPS. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current fiscal year.
The Goldman Sachs Group Announces Dividend
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 given a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 28.76%.
Insider Activity
In related news, insider Ericka T. Leslie sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total value of $92,628.00. Following the completion of the transaction, the insider directly owned 10,460 shares of the company’s stock, valued at $9,688,888.80. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $10,928,640.00. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,500 shares of company stock worth $11,380,508 in the last three months. Corporate insiders own 0.55% of the company’s stock.
Key The Goldman Sachs Group News
Investors following GS have been watching these news items:
- Positive Sentiment: Goldman is joining other lenders in a reported $150 million private-credit deal for a Saudi company, adding to its financing activity. Article: Goldman, HSBC, Fortress Make Rare $150 Million Saudi Credit Bet
- Neutral Sentiment: Goldman analysts reportedly project Anthropic could generate $685 billion in revenue by 2030. That forecast underscores the scale of the potential IPO opportunity, but depends on highly ambitious growth assumptions. Article: Goldman Sees Anthropic Revenue Hitting $685 Billion by 2030
- Negative Sentiment: After hotter inflation data, Goldman revised its rate outlook to include further Fed tightening. Higher rates and uncertainty could weigh on market sentiment and deal activity, although rate volatility may also create trading opportunities. Article: Why Goldman Sachs Is Changing Its Federal Reserve Interest-Rate Forecast
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.
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