The Goldman Sachs Group, Inc. $GS Stock Sold by Western Financial Corp CA

Western Financial Corp CA trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 70.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,784 shares of the investment management company’s stock after selling 4,272 shares during the period. Western Financial Corp CA’s holdings in The Goldman Sachs Group were worth $1,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GS. Sky Investment Group LLC boosted its holdings in The Goldman Sachs Group by 0.9% during the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after acquiring an additional 10 shares during the period. Warren Street Wealth Advisors LLC grew its position in The Goldman Sachs Group by 3.9% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock valued at $272,000 after acquiring an additional 10 shares during the last quarter. First Financial Group Corp increased its stake in The Goldman Sachs Group by 4.7% in the first quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock worth $208,000 after purchasing an additional 11 shares during the period. Meadow Creek Wealth Advisors LLC increased its stake in The Goldman Sachs Group by 1.7% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company’s stock worth $569,000 after purchasing an additional 11 shares during the period. Finally, DecisionMap Wealth Management LLC increased its stake in The Goldman Sachs Group by 3.2% in the second quarter. DecisionMap Wealth Management LLC now owns 350 shares of the investment management company’s stock worth $354,000 after purchasing an additional 11 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Down 1.7%

NYSE:GS traded down $14.84 during midday trading on Wednesday, hitting $877.07. The stock had a trading volume of 3,403,578 shares, compared to its average volume of 2,219,712. The stock has a 50-day moving average of $980.74 and a 200 day moving average of $989.49. The company has a market capitalization of $255.38 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.98 and a beta of 1.29. The Goldman Sachs Group, Inc. has a one year low of $740.01 and a one year high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17.

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 for the quarter, beating analysts’ consensus estimates of $12.86 by $4.15. The business 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 19.16% and a net margin of 15.53%. The Goldman Sachs Group’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company posted $12.25 EPS. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared 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 of this dividend is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio is presently 30.87%.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs reported third-quarter EPS of $17.01 on revenue of $18.68 billion, well above estimates of $12.86 and $16.83 billion, respectively. Revenue increased 23% year over year, while net earnings rose 29% to $5.29 billion. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Results were driven by a 72% surge in equities revenue to $6.44 billion, a 21% increase in investment-banking fees and strong financing and wealth-management activity. The board also declared a $5 quarterly dividend, equivalent to a 2.3% annualized yield. Goldman Q3 Earnings Beat on Strong Equities and Investment Banking Revenues
• Positive Sentiment: CEO David Solomon said Goldman has a “big, durable, diverse business,” sees a favorable market environment and does not anticipate a leadership transition. He also pointed to ongoing M&A and financing opportunities. Goldman Sachs CEO Solomon on earnings
• Neutral Sentiment: Citigroup cut its GS price target from $1,050 to $1,000 and adopted a Neutral rating, while RBC lowered its target from $1,220 to $1,010 with a Sector Perform rating. Morgan Stanley maintained a Hold rating and its $1,145 target, signaling that much of the earnings strength may already be reflected in the valuation. Analysts lower their forecasts on Goldman Sachs after Q3 results
• Negative Sentiment: Hotter-than-expected inflation and Solomon’s warning that abrupt interest-rate moves could create headwinds are weighing on financial stocks. Rising rates may also pressure dealmaking, financing demand and valuations, while AI-related infrastructure costs remain a longer-term risk. Why Is Goldman Sachs Stock Falling Wednesday?

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GS. Oppenheimer downgraded The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 30th. UBS Group cut their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Rothschild & Co Redburn raised their price target on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Royal Bank Of Canada reduced their price target on shares of The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group set a $1,299.00 price objective on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,050.55.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.