Ethic Inc. Sells 7,669 Shares of The Goldman Sachs Group, Inc. $GS

Ethic Inc. lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,819 shares of the investment management company’s stock after selling 7,669 shares during the period. The Goldman Sachs Group accounts for 0.4% of Ethic Inc.’s investment portfolio, making the stock its 29th largest position. Ethic Inc.’s holdings in The Goldman Sachs Group were worth $39,453,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth about $24,172,123,000. Bank of America Corp DE bought a new stake in The Goldman Sachs Group in the 2nd quarter valued at about $6,756,772,000. Orange County Employees Retirement System purchased a new stake in The Goldman Sachs Group during the second quarter valued at about $69,537,544,000. Bank of New York Mellon Corp purchased a new stake in The Goldman Sachs Group during the second quarter valued at about $2,560,028,000. Finally, International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group during the first quarter valued at about $2,024,921,000. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GS. BMO Capital Markets reduced their target price on shares of The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating for the company in a research note on Monday, October 19th. Keefe, Bruyette & Woods lowered their price target on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 14th. UBS Group dropped their price target on shares of The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating on the stock in a research note on Monday, November 2nd. Royal Bank Of Canada cut their price objective on shares of The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating for the company in a report on Wednesday, October 14th. Finally, TD Cowen started coverage on shares of The Goldman Sachs Group in a research note on Thursday, October 8th. They issued a “buy” rating and a $1,050.00 price objective for the company. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $1,052.04.

The Goldman Sachs Group Trading Down 0.4%

Shares of The Goldman Sachs Group stock opened at $865.88 on Friday. 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 market cap of $249.75 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.81 and a beta of 1.29. The company has a current ratio of 0.61, a quick ratio of 0.63 and a debt-to-equity ratio of 3.20. The company’s 50-day moving average price is $932.40 and its 200-day moving average price is $956.58.

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, beating the consensus estimate of $12.86 by $4.15. The company had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 20.21%. The Goldman Sachs Group’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $12.25 earnings per share. On average, equities analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be paid a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio is currently 28.76%.

More The Goldman Sachs Group News

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

• Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
• Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
• Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
• Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff

Insider Buying and Selling at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 12,000 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total value of $10,928,640.00. Following the transaction, the chief executive officer owned 159,180 shares of the company’s stock, valued at approximately $144,968,409.60. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ericka T. Leslie sold 250 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the transaction, the insider directly owned 10,710 shares in the company, valued at approximately $9,534,577.50. The trade was a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,500 shares of company stock valued at $11,380,508. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Company Profile

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.

Goldman Sachs also provides consumer financial products and digital financial services.