The Goldman Sachs Group, Inc. $GS Shares Sold by M&G PLC

M&G PLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 27.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,634 shares of the investment management company’s stock after selling 619 shares during the period. M&G PLC’s holdings in The Goldman Sachs Group were worth $1,471,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth $69,537,544,000. BlackRock Inc. purchased a new position in The Goldman Sachs Group during the 2nd quarter worth $24,172,123,000. Bank of America Corp DE acquired a new position in The Goldman Sachs Group during the 2nd quarter valued at about $6,756,772,000. Bank of New York Mellon Corp acquired a new position in The Goldman Sachs Group during the 2nd quarter valued at about $2,560,028,000. Finally, Dimensional Fund Advisors LP increased its position in The Goldman Sachs Group by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,840,675 shares of the investment management company’s stock valued at $1,556,706,000 after buying an additional 9,770 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Recent The Goldman Sachs Group Headlines

Here are a few of the latest headlines about GS:

• Positive Sentiment: Goldman is joining other lenders in a reported $150 million private-credit deal for a Saudi company, adding to its financing activity. Article: Goldman, HSBC, Fortress Make Rare $150 Million Saudi Credit Bet
• Neutral Sentiment: Goldman analysts reportedly project Anthropic could generate $685 billion in revenue by 2030. That forecast underscores the scale of the potential IPO opportunity, but depends on highly ambitious growth assumptions. Article: Goldman Sees Anthropic Revenue Hitting $685 Billion by 2030
• Negative Sentiment: After hotter inflation data, Goldman revised its rate outlook to include further Fed tightening. Higher rates and uncertainty could weigh on market sentiment and deal activity, although rate volatility may also create trading opportunities. Article: Why Goldman Sachs Is Changing Its Federal Reserve Interest-Rate Forecast

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GS shares. Keefe, Bruyette & Woods decreased their price target on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. Freedom Broker upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and dropped their price target for the stock from $1,200.00 to $1,100.00 in a research note on Friday, October 23rd. Bank of America upped their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 16th. HSBC increased 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. Finally, Royal Bank Of Canada lowered their target price 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 research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1,052.04.

The Goldman Sachs Group Price Performance

Shares of GS opened at $927.11 on Thursday. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.61. The company’s fifty day moving average price is $926.09 and its 200-day moving average price is $956.18. The Goldman Sachs Group, Inc. has a 1-year low of $754.00 and a 1-year high of $1,153.99. The firm has a market capitalization of $267.41 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (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 analyst estimates of $16.83 billion. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted $12.25 EPS. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend 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 28.76%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Ericka T. Leslie sold 100 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $926.28, for a total value of $92,628.00. Following the transaction, the insider owned 10,460 shares in the company, valued at approximately $9,688,888.80. This represents a 0.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Solomon sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the transaction, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,500 shares of company stock valued at $11,380,508 in the last ninety days. Corporate 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.