The Goldman Sachs Group, Inc. $GS Stock Holdings Reduced by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 20,430 shares of the investment management company’s stock after selling 611 shares during the period. The Goldman Sachs Group makes up about 1.7% of KMG Fiduciary Partners LLC’s holdings, making the stock its 15th largest holding. KMG Fiduciary Partners LLC’s holdings in The Goldman Sachs Group were worth $18,395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. BlackRock Inc. purchased a new stake in The Goldman Sachs Group in the second quarter valued at $24,172,123,000. Bank of America Corp DE purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter worth $6,756,772,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $69,537,544,000. Bank of New York Mellon Corp acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $2,560,028,000. Finally, Corient Private Wealth LLC increased its position in shares of The Goldman Sachs Group by 1,657.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after purchasing an additional 2,448,767 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Major earnings beat: Third-quarter revenue rose 23% year over year to $18.68 billion, while net income increased 29% to $5.29 billion. Diluted EPS of $17.01 exceeded the $12.86 consensus estimate by $4.15. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Equities and investment banking led results: Equities trading revenue surged 72% to $6.44 billion, supported by stronger financing and derivatives activity. Investment-banking fees rose 21% as underwriting and dealmaking recovered. Goldman Q3 Earnings Beat on Strong Equities and IB Revenues
• Positive Sentiment: Wealth management reached a new record: Goldman supervised $2.1 trillion in wealth-management assets and conducted its largest-ever private-wealth-advisor training class, supporting the firm’s longer-term asset-gathering strategy. Goldman Sachs Supervised $2.1 Trillion in Wealth Management Assets
• Neutral Sentiment: CEO David Solomon said there is no succession transition or timetable underway, removing an immediate leadership overhang. He also described Goldman as well positioned despite geopolitical and economic uncertainty. Goldman Sachs profits jump as CEO says no plans to exit
• Negative Sentiment: Mixed business quality and valuation concerns: Fixed-income and rates trading fell short of expectations, total revenue declined sequentially from the prior quarter, and analysts argue the stock already reflects a premium valuation. Persistent inflation, elevated interest rates, geopolitical risks and uncertainty around AI-related financing could also pressure activity and multiples. Goldman Sachs Q3: The Business Deserves a Premium. The Stock Already Has One

The Goldman Sachs Group Trading Down 0.2%

Shares of NYSE GS opened at $892.43 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17. The stock has a market capitalization of $259.85 billion, a PE ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.29. The Goldman Sachs Group, Inc. has a twelve month low of $740.01 and a twelve month high of $1,153.99. The stock has a fifty day simple moving average of $984.44 and a 200-day simple moving average of $989.10.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%. The firm had revenue of $18.68 billion for the quarter, compared to analyst estimates of $16.83 billion. During the same quarter in the prior year, the company earned $12.25 EPS. The Goldman Sachs Group’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given 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 payout ratio is currently 30.87%.

Analysts Set New Price Targets

Several analysts recently issued reports on GS shares. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 16th. BMO Capital Markets lowered their target price on shares of The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Finally, Wells Fargo & Company decreased their price objective on shares of The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating on the stock in a report on Friday, September 25th. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1,055.09.

The Goldman Sachs Group 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.