Prudential PLC Decreases Stock Position in The Goldman Sachs Group, Inc. $GS

Prudential PLC cut its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 25.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,097 shares of the investment management company’s stock after selling 12,253 shares during the quarter. Prudential PLC’s holdings in The Goldman Sachs Group were worth $27,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in The Goldman Sachs Group in the 3rd quarter worth about $26,000. First PREMIER Bank bought a new stake in The Goldman Sachs Group in the 3rd quarter valued at about $28,000. Corundum Trust Company INC purchased a new stake in The Goldman Sachs Group during the third quarter valued at about $29,000. Elevation Wealth Partners LLC boosted its position in The Goldman Sachs Group by 100.0% during the third quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after purchasing an additional 20 shares during the period. Finally, Clearstead Trust LLC bought a new position in The Goldman Sachs Group during the second quarter worth about $31,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.7%

GS opened at $781.99 on Friday. The business’s fifty day simple moving average is $910.83 and its 200 day simple moving average is $843.02. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $984.70. 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 stock 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 Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $2.03. The Goldman Sachs Group had a return on equity of 15.72% and a net margin of 13.73%.The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the company posted $11.95 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, March 2nd. 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 presently 35.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Friday, January 16th. Barclays raised their price objective on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. BNP Paribas Exane lifted their price objective on shares of The Goldman Sachs Group from $775.00 to $970.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Bank of America boosted their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 16th. Finally, JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $815.00 to $826.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $919.29.

Trending Headlines about 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

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 272 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $938.92, for a total transaction of $255,386.24. Following the transaction, the chief executive officer directly owned 125,527 shares in the company, valued at $117,859,810.84. This trade represents a 0.22% 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, Treasurer Carey Halio sold 2,846 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $927.17, for a total transaction of $2,638,725.82. Following the transaction, the treasurer directly owned 2,017 shares in the company, valued at $1,870,101.89. This trade represents a 58.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 117,283 shares of company stock valued at $112,016,033 over the last 90 days. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Company Profile

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.