The Goldman Sachs Group, Inc. $GS Stock: Fortitude Family Office LLC Raises Position

Fortitude Family Office LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 310.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,902 shares of the investment management company’s stock after acquiring an additional 1,439 shares during the quarter. Fortitude Family Office LLC’s holdings in The Goldman Sachs Group were worth $1,713,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Orange County Employees Retirement System bought a new stake in shares of The Goldman Sachs Group during the second quarter worth $69,537,544,000. BlackRock Inc. bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $24,172,123,000. Bank of America Corp DE bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $6,756,772,000. Bank of New York Mellon Corp purchased a new position in The Goldman Sachs Group in the 2nd quarter worth about $2,560,028,000. Finally, Corient Private Wealth LLC increased its stake in The Goldman Sachs Group by 1,657.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after buying an additional 2,448,767 shares during the period. Institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GS. HSBC boosted their price objective on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the company a “hold” rating in a research report on Monday, September 28th. Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 30th. TD Cowen initiated coverage on shares of The Goldman Sachs Group in a research note on Thursday, October 8th. They set a “buy” rating and a $1,050.00 price target for the company. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, UBS Group dropped their price objective on The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $1,050.55.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $877.07 on Thursday. The firm has a market cap of $255.38 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.98 and a beta of 1.29. The company’s 50 day moving average is $980.74 and its 200 day moving average is $989.49. 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 Goldman Sachs Group, Inc. has a 52-week low of $740.01 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 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 net margin of 15.77% and a return on equity of 19.55%. The Goldman Sachs Group’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 firm posted $12.25 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal 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 $5.00 dividend. 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 30.87%.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs reported third-quarter EPS of $17.01 versus the $12.86 consensus estimate, while revenue rose 23% year over year to $18.68 billion, exceeding expectations. Net income increased 29% to $5.29 billion. Reuters earnings report
• Positive Sentiment: Equities revenue surged 72% to $6.44 billion, investment-banking fees climbed 21%, and wealth-management assets reached a record $2.1 trillion. The board also declared a $5-per-share quarterly dividend, and Goldman returned $4.49 billion to shareholders during the quarter. Zacks earnings analysis
• Positive Sentiment: CEO David Solomon described Goldman’s business as “big, durable and diverse,” said the underlying economy remains strong, and reiterated that no leadership succession transition is underway. Jim Cramer also identified GS as his favorite bank stock following the results. CNBC interview with David Solomon
• Neutral Sentiment: Citigroup cut its GS price target to $1,000 from $1,050 and retained a Neutral rating, while RBC lowered its target to $1,010 from $1,220 and assigned a Sector Perform rating. The targets still imply upside, but the reductions signal more cautious valuation expectations. Benzinga analyst target changes
• Negative Sentiment: Hotter-than-expected inflation data pressured financial stocks and raised concerns that interest rates could remain elevated. Solomon warned that abrupt rate moves could create headwinds, while analysts cited late-cycle risks and Goldman’s already-premium valuation. Benzinga analysis of GS weakness
• Negative Sentiment: A Treasury review found that major U.S. banks’ reputation-risk policies could allow political or social considerations to influence access to banking services. Although no company-specific action was announced, the findings could increase regulatory and reputational scrutiny for Goldman Sachs. CNBC Treasury review

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.