Canandaigua National Trust Co of Florida Buys New Stake in The Goldman Sachs Group, Inc. $GS

Canandaigua National Trust Co of Florida purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 868 shares of the investment management company’s stock, valued at approximately $782,000.

Several other institutional investors have also added to or reduced their stakes in the company. Sky Investment Group LLC increased its position 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 worth $1,181,000 after buying an additional 10 shares during the period. Warren Street Wealth Advisors LLC grew its stake in shares of The Goldman Sachs Group by 3.9% in the second 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 in the last quarter. First Financial Group Corp increased its position in The Goldman Sachs Group by 4.7% during the first quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock worth $208,000 after acquiring an additional 11 shares during the period. Meadow Creek Wealth Advisors LLC increased its position in The Goldman Sachs Group by 1.7% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company’s stock worth $569,000 after acquiring an additional 11 shares during the period. Finally, DecisionMap Wealth Management LLC raised its stake in The Goldman Sachs Group by 3.2% in the 2nd 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 in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Rothschild & Co Redburn raised their price objective on 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. Finally, BMO Capital Markets dropped their price objective on The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating for the company in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $1,055.60.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded down $9.82 on Wednesday, reaching $887.36. 2,389,072 shares of the stock were exchanged, compared to its average volume of 2,204,143. The firm’s 50 day moving average is $997.52 and its 200-day moving average is $986.86. 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 debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $258.37 billion, a PE ratio of 13.70, a P/E/G ratio of 0.92 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The firm had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. During the same period in the prior year, the company earned $10.91 earnings per share. The company’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 68.31 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were issued a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date of this dividend was Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 30.87%.

Key The Goldman Sachs Group News

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

• Positive Sentiment: A recent analysis argues that the selloff has made GS a potential value opportunity. The stock trades below its recent highs, while its prior quarter featured substantially better-than-expected earnings and revenue growth. Goldman Sachs: Selloff Makes Stock A Value Play
• Positive Sentiment: Goldman forecasts a 27% increase in S&P 500 profits, with artificial-intelligence investment supporting corporate earnings. A stronger market and capital-markets environment could benefit Goldman’s trading, underwriting, and advisory businesses. Goldman Sachs forecasts S&P 500 profits
• Neutral Sentiment: BMO and UBS lowered their GS price targets to $970 and $1,010, respectively, while maintaining market-perform or neutral ratings. Both targets still imply upside, but the reductions signal more cautious expectations. BMO cuts Goldman Sachs price target
• Neutral Sentiment: Goldman’s upcoming earnings report is becoming a key catalyst. Analysts expect earnings growth, but one forecast suggests the firm lacks the usual ingredients for a likely earnings beat. Goldman Sachs earnings expectations
• Negative Sentiment: Goldman’s wealth-management business was among the clients affected by an EY data breach. Goldman says its systems were not compromised and client assets remain safe, limiting direct financial risk, but the incident creates reputational and potential regulatory concerns. Goldman Sachs client data exposed in EY data breach
• Negative Sentiment: Citi has overtaken Goldman in global IPO underwriting through September after winning several major listings. Losing the top ranking could raise concerns about GS’s competitive position and future equity-capital-markets fees. Goldman Sachs IPO underwriting ranking
• Negative Sentiment: Chief Executive David Solomon has indicated that Goldman is not ready to raise its 14%–16% through-cycle return-on-equity target. That restraint may reinforce doubts about near-term profitability and limit valuation expansion. Goldman Sachs ROE target

About The Goldman Sachs Group

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.