Chevy Chase Trust Holdings LLC Cuts Position in The Goldman Sachs Group, Inc. $GS

Chevy Chase Trust Holdings LLC lessened its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 461,328 shares of the investment management company’s stock after selling 23,753 shares during the quarter. The Goldman Sachs Group accounts for approximately 1.0% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 14th largest holding. Chevy Chase Trust Holdings LLC owned about 0.15% of The Goldman Sachs Group worth $367,378,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of The Goldman Sachs Group in the 3rd quarter worth about $26,000. First PREMIER Bank purchased a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at about $28,000. Corundum Trust Company INC bought a new stake in The Goldman Sachs Group in the 3rd quarter worth approximately $29,000. Clearstead Trust LLC bought a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $31,000. Finally, Elevation Wealth Partners LLC boosted its stake in The Goldman Sachs Group by 100.0% in the third quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after buying an additional 20 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Activity

In other news, CFO Denis P. Coleman sold 11,623 shares of The Goldman Sachs Group stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $941.57, for a total transaction of $10,943,868.11. Following the sale, the chief financial officer owned 29,342 shares of the company’s stock, valued at approximately $27,627,546.94. The trade was a 28.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alex S. Golten sold 1,092 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $936.89, for a total transaction of $1,023,083.88. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 117,283 shares of company stock worth $112,016,033. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GS. HSBC lifted their price target on shares of The Goldman Sachs Group from $742.00 to $802.00 in a research note on Friday, February 6th. Autonomous Res cut their price objective on shares of The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a report on Friday, January 16th. BNP Paribas Exane lifted their target price on shares of The Goldman Sachs Group from $775.00 to $970.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, Daiwa Securities Group upped their price target on shares of The Goldman Sachs Group from $927.00 to $940.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $919.29.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman highlights that the current energy supply shock should spur investment in grid infrastructure and storage — a potential source of advisory, underwriting and asset-management fees for GS. Current energy supply shock will drive investment into grid infrastructure and storage solutions: GS
• Positive Sentiment: Several pieces note GS is deeply oversold technically and that analysts remain constructive (recent price-targets above current levels), which could support a relief rally if markets stabilize or capital-markets activity picks up. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Neutral Sentiment: Governance update — board member Lakshmi Mittal announced retirement. Routine board turnover can be relevant for long-term governance but is unlikely to drive immediate price action. Goldman Sachs Announces Retirement of Board Member Mittal
• Neutral Sentiment: Goldman trimmed a derivative-based stake in Siemens Energy to just under 5% — a portfolio move that signals repositioning but is not a major earnings driver for GS itself. Goldman Sachs Trims Derivative-Based Stake in Siemens Energy to Just Under 5%
• Negative Sentiment: Immediate sell pressure was linked to investor worries about the stability of the private credit market after a key bank announcement — contagion concerns in private markets tend to hit large universal banks and asset managers. Why Goldman Sachs (GS) Shares Are Sliding Today
• Negative Sentiment: Goldman’s elevated oil-price forecasts and widespread supply-shock commentary (Brent near $100+ forecasts and warning of much higher spikes) have helped push Treasury yields and a risk-off tone — that environment has weighed on financials and contributed to GS’s intraday weakness. Goldman Sachs forecasts oil at $100 a barrel for March
• Negative Sentiment: Macroeconomic outlook shifts — Goldman pushed back its Fed rate-cut timeline (now expecting cuts later in the year), which, together with oil-driven inflation risk, is keeping markets cautious and depressing risk assets including bank stocks. Goldman now sees first Fed rate cut in September, not June

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $781.99 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.60. The company has a market cap of $232.06 billion, a PE ratio of 15.25, a P/E/G ratio of 0.96 and a beta of 1.34. The business has a 50 day moving average of $910.83 and a 200 day moving average of $843.68. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $984.70.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.72% and a net margin of 13.73%.The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $11.95 earnings per share. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be given a $4.50 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $18.00 annualized dividend and a dividend yield of 2.3%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s dividend payout ratio is 35.09%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.