New England Research & Management Inc. Purchases 1,209 Shares of The Goldman Sachs Group, Inc. $GS

New England Research & Management Inc. raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 41.5% during the third quarter, HoldingsChannel reports. The firm owned 4,125 shares of the investment management company’s stock after purchasing an additional 1,209 shares during the period. The Goldman Sachs Group comprises 1.4% of New England Research & Management Inc.’s holdings, making the stock its 20th biggest position. New England Research & Management Inc.’s holdings in The Goldman Sachs Group were worth $3,714,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Audent Global Asset Management LLC raised its holdings in The Goldman Sachs Group by 10.1% in the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after acquiring an additional 479 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $53,720,000. Oak Grove Capital LLC acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $1,890,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of The Goldman Sachs Group by 14.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company’s stock worth $17,606,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Sax Wealth Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 148.7% during the 2nd quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company’s stock worth $3,569,000 after purchasing an additional 2,110 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their price target 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 report on Wednesday. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Rothschild & Co Redburn lifted their price objective on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Finally, Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $1,051.23.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
• Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
• Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
• Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
• Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
• Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
• Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds

The Goldman Sachs Group Trading Down 1.2%

The Goldman Sachs Group stock traded down $10.80 during midday trading on Friday, hitting $880.48. 2,376,586 shares of the stock were exchanged, compared to its average volume of 2,349,202. The company has a current ratio of 1.10, a quick ratio of 0.63 and a debt-to-equity ratio of 2.82. The stock’s 50-day simple moving average is $974.71 and its 200 day simple moving average is $989.34. The Goldman Sachs Group, Inc. has a fifty-two week low of $740.01 and a fifty-two week high of $1,153.99. The stock has a market capitalization of $256.37 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.94 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its 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 company had revenue of $18.68 billion for the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The Goldman Sachs Group’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted $12.25 EPS. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 68.54 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 28.76%.

About The Goldman Sachs Group

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.