42,149 The Goldman Sachs Group, Inc. $GS Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 13,296.2% during the third quarter, HoldingsChannel reports. The firm owned 42,466 shares of the investment management company’s stock after purchasing an additional 42,149 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in The Goldman Sachs Group were worth $38,235,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at approximately $24,172,123,000. Bank of America Corp DE acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $6,756,772,000. Orange County Employees Retirement System acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $69,537,544,000. Bank of New York Mellon Corp bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $2,560,028,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $974,380,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS traded up $2.45 on Friday, hitting $916.05. 1,265,137 shares of the stock traded hands, compared to its average volume of 2,098,710. The Goldman Sachs Group, Inc. has a 52 week low of $754.00 and a 52 week high of $1,153.99. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 3.20. The firm has a market capitalization of $264.22 billion, a PE ratio of 13.17, a P/E/G ratio of 0.85 and a beta of 1.29. The business has a fifty day moving average price of $921.83 and a two-hundred day moving average price of $956.03.

The Goldman Sachs Group (NYSE:GS) last announced 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 Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The company had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter last year, the company earned $12.25 EPS. The company’s quarterly revenue was up 23.0% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be given 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 2.2%. The Goldman Sachs Group’s payout ratio is currently 28.76%.

Key The Goldman Sachs Group News

Investors following GS have been watching these news items:

• Positive Sentiment: Goldman and HSBC are reported to have struck a Saudi financing deal, potentially creating lending and financing opportunities for the banks. Goldman Sachs, HSBC Strike Major Saudi Financing Deal
• Positive Sentiment: Goldman is among banks committing $270 million to a joint stablecoin venture, a move that could help it participate in evolving digital-payment and deposit markets; the article does not indicate a near-term earnings impact. Goldman Sachs, Citi and Other Banks Commit $270M to Joint Stablecoin Venture
• Negative Sentiment: A Goldman survey found private-credit investors increasingly concerned about defaults, valuations and liquidity. Heightened credit stress could pressure sentiment toward lenders and alternative-asset exposures. Private Credit Investors Are Getting Nervous About Defaults, Goldman Sachs Survey Finds

Insiders Place Their Bets

In related news, insider Ericka Leslie sold 250 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total value of $222,562.50. Following the completion of the transaction, the insider directly owned 10,710 shares of the company’s stock, valued at $9,534,577.50. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Solomon sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total value of $10,928,640.00. Following the completion of the transaction, the chief executive officer directly owned 159,180 shares of the company’s stock, valued at approximately $144,968,409.60. This trade represents a 7.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,500 shares of company stock valued at $11,380,508 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GS. TD Cowen initiated coverage on The Goldman Sachs Group in a report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating on the stock in a research note on Friday, September 25th. Keefe, Bruyette & Woods dropped their target price 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. BMO Capital Markets dropped their target price on shares of The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating on the stock in a research report on Monday, October 19th. Finally, Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. One research 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. 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 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.