The Goldman Sachs Group, Inc. $GS Stock Position Decreased by Convergence Financial LLC

Convergence Financial LLC cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 51.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,367 shares of the investment management company’s stock after selling 2,546 shares during the quarter. Convergence Financial LLC’s holdings in The Goldman Sachs Group were worth $2,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GS. Wealthfront Advisers LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter worth $53,720,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of The Goldman Sachs Group by 14.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company’s stock worth $17,606,000 after acquiring an additional 2,230 shares during the period. Sax Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 148.7% during the second quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company’s stock worth $3,569,000 after acquiring an additional 2,110 shares during the period. Baird Financial Group Inc. lifted its position in The Goldman Sachs Group by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 110,233 shares of the investment management company’s stock valued at $111,487,000 after acquiring an additional 3,063 shares in the last quarter. Finally, Liontrust Investment Partners LLP lifted its position in The Goldman Sachs Group by 1,007.5% in the 1st quarter. Liontrust Investment Partners LLP now owns 9,602 shares of the investment management company’s stock valued at $8,123,000 after acquiring an additional 8,735 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Ericka Leslie sold 250 shares of the business’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total transaction of $222,562.50. Following the sale, the insider directly owned 10,710 shares of the company’s stock, valued at $9,534,577.50. The trade was a 2.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Solomon sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the sale, the chief executive officer directly owned 159,180 shares in the company, valued at $144,968,409.60. This trade represents a 7.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of research analyst reports. UBS Group set a $942.00 target price on shares of The Goldman Sachs Group in a research note on Monday. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. Loop Capital set a $1,050.00 price target on The Goldman Sachs Group in a research note on Thursday, October 8th. Royal Bank Of Canada cut their price target on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 14th. Finally, Freedom Broker raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $1,200.00 to $1,100.00 in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued 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 stock presently has a consensus rating of “Hold” and a consensus target price of $1,049.52.

The Goldman Sachs Group Price Performance

Shares of GS opened at $926.23 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82. The Goldman Sachs Group, Inc. has a twelve month low of $754.00 and a twelve month high of $1,153.99. The stock has a market capitalization of $269.69 billion, a P/E ratio of 13.32, a P/E/G ratio of 0.83 and a beta of 1.29. The company has a 50 day moving average of $951.75 and a 200-day moving average of $958.39.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business had revenue of $18.68 billion for the quarter, compared to analyst estimates of $16.83 billion. During the same quarter in the previous year, the firm posted $12.25 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 70.89 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

More The Goldman Sachs Group News

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

• Positive Sentiment: An analyst upgrade helped support GS shares. Goldman’s recent earnings showed substantial upside versus estimates, with earnings per share of $17.01 versus a $12.86 consensus and revenue growth of 23% year over year. Goldman Sachs Shares Climb on Analyst Upgrade
• Positive Sentiment: Goldman Sachs and Morgan Stanley are reportedly positioned to lead a planned Anthropic initial public offering. The mandate could generate underwriting and advisory fees while strengthening Goldman’s role in AI-related capital markets. Cramer Says Anthropic’s IPO Makes Goldman Sachs a Buy
• Positive Sentiment: Goldman ranked first by value among consumer M&A advisers in the first three quarters, advising on 10 transactions worth $57.14 billion. Continued deal activity could benefit its investment-banking revenue. Goldman Sachs Leads Consumer M&A Advisers
• Positive Sentiment: Goldman is using EquiLend’s distributed-ledger platform for securities finance, potentially improving operational efficiency and reducing reconciliation costs. The near-term earnings impact is likely limited, but the move supports longer-term modernization. EquiLend’s 1Source Adds Goldman Sachs
• Neutral Sentiment: Goldman’s research on AI’s effect on employment and its warnings about CoreWeave’s potentially approaching $100 billion of debt highlight both the commercial opportunity and financial risks surrounding the AI investment cycle. Goldman Sachs on CoreWeave Debt
• Negative Sentiment: CEO David Solomon sold 12,000 shares for approximately $10.9 million, reducing his direct holdings by 7.01%. The sale may weigh modestly on sentiment, although it does not by itself indicate deteriorating fundamentals. SEC Filing for David Solomon Share Sale

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.