The Goldman Sachs Group, Inc. $GS Shares Sold by J. L. Bainbridge & Co. Inc.

J. L. Bainbridge & Co. Inc. decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 89,692 shares of the investment management company’s stock after selling 787 shares during the period. The Goldman Sachs Group makes up about 6.0% of J. L. Bainbridge & Co. Inc.’s holdings, making the stock its 3rd biggest holding. J. L. Bainbridge & Co. Inc.’s holdings in The Goldman Sachs Group were worth $71,427,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GS. Winthrop Advisory Group LLC raised its holdings in The Goldman Sachs Group by 3.4% during the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock worth $303,000 after buying an additional 14 shares during the last quarter. Avion Wealth raised its holdings in shares of The Goldman Sachs Group by 31.1% in the 2nd quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after acquiring an additional 14 shares during the last quarter. KPP Advisory Services LLC boosted its stake in The Goldman Sachs Group by 2.1% during the 2nd quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock valued at $473,000 after purchasing an additional 14 shares during the last quarter. FAS Wealth Partners Inc. increased its holdings in The Goldman Sachs Group by 2.2% during the 2nd quarter. FAS Wealth Partners Inc. now owns 653 shares of the investment management company’s stock worth $462,000 after purchasing an additional 14 shares in the last quarter. Finally, Ignite Planners LLC lifted its holdings in shares of The Goldman Sachs Group by 4.2% in the third quarter. Ignite Planners LLC now owns 351 shares of the investment management company’s stock valued at $280,000 after purchasing an additional 14 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. HSBC raised their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. BNP Paribas Exane upped their price target on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Daiwa Capital Markets boosted their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $792.67.

More The Goldman Sachs Group News

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

• Positive Sentiment: High-profile endorsement: TV investor Jim Cramer says he holds GS in a charitable trust and highlights the stock’s strong YTD gain and benefits from market activity and lower rates, a sentiment booster for retail investors. I Have Goldman Sachs (GS) in My Charitable Trust, Says Jim Cramer
• Neutral Sentiment: Research product — AT&T outlook: Goldman Sachs’ analysts forecast AT&T will accelerate buybacks as free cash flow grows; this is a sell-side call that underscores GS’s ongoing research revenue stream but is not a direct corporate catalyst for GS shares. Goldman Sachs Forecasts AT&T (T) Buyback Ramp-Up Fueled by 8% Free Cash Flow Growth
• Neutral Sentiment: Macro/research insight on layoffs: Goldman research finds investor reactions to layoffs have shifted (stocks now decline on average after cuts). This strengthens GS’s franchise as a market commentator but doesn’t directly move GS’s fundamentals. Goldman Sachs expects layoffs to keep rising—and says investors are punishing the stocks of companies that slash staff
• Neutral Sentiment: 1MDB courtroom development: Former Malaysian PM Najib Razak convicted in the 1MDB scandal; historically linked cases can keep legal/regulatory risks in public view, but this specific conviction is not a new direct exposure for GS. Former Malaysian Prime Minister Najib Razak convicted in trial over 1MDB corruption scandal
• Negative Sentiment: Private-credit troubles: The WSJ reports Goldman’s private-credit business is struggling to unwind soured loans and reposition portfolios, which could weigh on fee income, raise mark-to-market losses for alternatives, and increase investor scrutiny of GS’s asset-management unit. This is a direct portfolio/earnings risk. Goldman Sachs’s Private-Credit Company Struggles to Clean Up Soured Bets
• Negative Sentiment: Third?party data breach risk: Goldman alerted some alternative-fund investors that client data may have been exposed after a cybersecurity incident at law firm Fried Frank, raising reputational, client?notification and potential legal costs. Investors often react negatively to operational/cyber risks. Goldman Sachs Says Some Client Data May Have Been Exposed in Third-Party Data Breach

The Goldman Sachs Group Stock Down 0.3%

GS opened at $907.94 on Friday. The business’s fifty day simple moving average is $823.96 and its 200 day simple moving average is $764.24. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $919.10. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 2.53. The stock has a market cap of $272.32 billion, a PE ratio of 18.44, a P/E/G ratio of 1.19 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The firm had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.40 earnings per share. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 1.8%. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.