The Goldman Sachs Group, Inc. $GS Stock: Pinnacle Associates Ltd. Decreases Position

Pinnacle Associates Ltd. lessened its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,895 shares of the investment management company’s stock after selling 751 shares during the quarter. Pinnacle Associates Ltd.’s holdings in The Goldman Sachs Group were worth $32,318,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GS. Sky Investment Group LLC raised its stake in The Goldman Sachs Group by 0.9% in the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after purchasing an additional 10 shares during the last quarter. Warren Street Wealth Advisors LLC lifted its holdings in The Goldman Sachs Group by 3.9% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock valued at $272,000 after purchasing an additional 10 shares in the last quarter. First Financial Group Corp lifted its holdings in The Goldman Sachs Group by 4.7% in the 1st quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 11 shares in the last quarter. Meadow Creek Wealth Advisors LLC boosted its stake in The Goldman Sachs Group by 1.7% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company’s stock worth $569,000 after purchasing an additional 11 shares during the last quarter. Finally, DecisionMap Wealth Management LLC boosted its stake in The Goldman Sachs Group by 3.2% during the 2nd quarter. DecisionMap Wealth Management LLC now owns 350 shares of the investment management company’s stock worth $354,000 after purchasing an additional 11 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs agreed to acquire NEOS Investments, an actively managed and options-based ETF provider with approximately $30 billion in assets. The transaction could cost up to $2.25 billion and is viewed as a strategically attractive way for Goldman to expand its asset-management platform and diversify revenue toward fee-based businesses. Goldman Sachs NEOS Investments acquisition
• Positive Sentiment: Goldman is broadening its private-markets capabilities by exploring “evergreen” funds that would allow private-equity firms to hold assets for 10 to 15 years or longer. Such products could create additional advisory, financing and asset-management fees for GS. Goldman and Evercore evergreen funds
• Positive Sentiment: The bank continues to position tokenization as a growth opportunity across trading, payments and wealth management, potentially improving Goldman’s long-term technology and digital-asset revenue mix. Goldman Sachs tokenization strategy
• Neutral Sentiment: Goldman’s prime-brokerage data showed hedge funds reduced technology exposure at the fastest pace in at least a decade. The report may benefit GS’s trading and client-activity revenue, but it also highlights risk appetite and valuation concerns across markets. Hedge funds cut technology stocks
• Neutral Sentiment: Goldman still expects a potential year-end S&P 500 rally, which could support investment-banking, trading and asset-management activity, although the outlook remains vulnerable to technology-sector volatility. Goldman Sachs year-end market outlook
• Negative Sentiment: BMO Capital Markets lowered its GS price target to $950 from $970 and maintained a “Market Perform” rating, signaling limited near-term upside despite the stock’s valuation and strong latest earnings. BMO lowers Goldman Sachs price target
• Negative Sentiment: Goldman economists expect the U.S. housing market to remain weak through 2027 as mortgage rates above 7% suppress transactions and new construction. Prolonged housing weakness could weigh on consumer activity and related investment-banking businesses. Goldman Sachs housing market outlook

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $884.42 on Wednesday. The Goldman Sachs Group, Inc. has a one year low of $743.11 and a one year high of $1,153.99. The company has a market cap of $257.52 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.83 and a beta of 1.29. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10. The business’s 50 day moving average price is $968.62 and its 200 day moving average price is $991.00.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.55% and a net margin of 15.77%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.25 earnings per share. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 70.26 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business 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. This represents a $20.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 28.76%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GS. Wells Fargo & Company dropped 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 report on Friday, September 25th. Loop Capital set a $1,050.00 price target on shares of The Goldman Sachs Group in a research note on Thursday, October 8th. Oppenheimer downgraded shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group set a $1,299.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. One 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. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $1,050.32.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.