The Goldman Sachs Group, Inc. $GS Shares Sold by Heritage Family Offices LLP

Heritage Family Offices LLP decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 70.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 290 shares of the investment management company’s stock after selling 682 shares during the period. Heritage Family Offices LLP’s holdings in The Goldman Sachs Group were worth $261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $25,000. Strive Financial Group LLC raised its position in shares of The Goldman Sachs Group by 316.7% in the 2nd quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 19 shares during the period. BOK Financial Private Wealth Inc. boosted its stake in The Goldman Sachs Group by 188.9% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after acquiring an additional 17 shares during the last quarter. Cherry Tree Wealth Management LLC boosted its stake in The Goldman Sachs Group by 100.0% during the 3rd quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock worth $27,000 after acquiring an additional 15 shares during the last quarter. Finally, Clearstead Trust LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $33,000. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 14th. Keefe, Bruyette & Woods cut 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 report on Wednesday, October 14th. Weiss Ratings cut shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. Loop Capital set a $1,050.00 price target on shares of The Goldman Sachs Group in a report on Thursday, October 8th. Finally, BMO Capital Markets lowered their price objective 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 report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $1,052.04.

Key Stories Impacting The Goldman Sachs Group

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 Activity at The Goldman Sachs Group

In other news, CEO David Solomon sold 12,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the completion of the sale, the chief executive officer owned 159,180 shares of the company’s stock, valued at $144,968,409.60. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $222,562.50. Following the sale, the insider owned 10,710 shares in the company, valued at approximately $9,534,577.50. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,500 shares of company stock valued at $11,380,508 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS opened at $865.88 on Friday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.63 and a current ratio of 0.61. The stock has a 50 day simple moving average of $932.40 and a 200 day simple moving average of $956.58. The Goldman Sachs Group, Inc. has a 52-week low of $754.00 and a 52-week high of $1,153.99. The firm has a market capitalization of $249.75 billion, a PE ratio of 12.45, a P/E/G ratio of 0.81 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, topping the consensus estimate of $12.86 by $4.15. The firm had revenue of $18.68 billion for 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 20.21%. The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period last year, the company posted $12.25 EPS. Sell-side 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 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. 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 dividend payout ratio is 28.76%.

About The Goldman Sachs Group

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.