The Goldman Sachs Group, Inc. $GS Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 18.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,693 shares of the investment management company’s stock after selling 833 shares during the quarter. SVB Wealth LLC’s holdings in The Goldman Sachs Group were worth $3,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Turim 21 Investimentos Ltda. purchased a new position in The Goldman Sachs Group in the first quarter worth $25,000. Strive Financial Group LLC grew its stake in The Goldman Sachs Group by 316.7% in the 2nd quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 19 shares during the period. BOK Financial Private Wealth Inc. grew its stake in The Goldman Sachs Group by 188.9% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 17 shares during the period. Cherry Tree Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 100.0% during the 3rd quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 15 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $33,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $914.16 on Friday. The Goldman Sachs Group, Inc. has a 12 month low of $754.00 and a 12 month high of $1,153.99. The firm’s 50 day moving average is $924.28 and its 200 day moving average is $956.09. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 3.20. The stock has a market capitalization of $263.67 billion, a P/E ratio of 13.14, a PEG ratio of 0.87 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The company had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $16.83 billion. During the same period in the previous year, the business earned $12.25 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be issued a $5.00 dividend. This represents a $20.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 28.76%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total value of $10,928,640.00. Following the completion of the transaction, the chief executive officer owned 159,180 shares of the company’s stock, valued at $144,968,409.60. The trade was a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ericka T. Leslie sold 100 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total transaction of $92,628.00. Following the completion of the transaction, the insider owned 10,460 shares of the company’s stock, valued at $9,688,888.80. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,500 shares of company stock valued at $11,380,508 in the last three months. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group News Summary

Here’s some of the latest news about GS:

• Positive Sentiment: Goldman raised its dividend by 11% and continues share repurchases, signaling confidence in its capital position and supporting shareholder returns. Article: GS’ Capital Distribution Strategy
• Positive Sentiment: Goldman is participating in a reported $150 million Saudi financing deal, adding to its lending and financing activity. Article: Goldman, HSBC, Fortress Make Rare $150 Million Saudi Credit Bet
• Negative Sentiment: A Goldman survey found private-credit investors increasingly concerned about defaults, valuations and liquidity. That caution could weigh on private-credit activity and raises risks for lenders and investors exposed to the market. Article: Private Credit Investors Are Getting Nervous About Defaults, Goldman Sachs Survey Finds

Wall Street Analyst Weigh In

GS has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered their target price on 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, October 14th. Keefe, Bruyette & Woods reduced their price target on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating for the company in a research report on Wednesday, October 14th. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Bank of America raised their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Loop Capital set a $1,050.00 price objective on shares of The Goldman Sachs Group in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $1,052.04.

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.