The Goldman Sachs Group, Inc. $GS Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.5% in the third quarter, Holdings Channel.com reports. The firm owned 210,719 shares of the investment management company’s stock after buying an additional 9,160 shares during the period. Russell Investments Group Ltd.’s holdings in The Goldman Sachs Group were worth $190,280,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Tortoise Investment Management LLC lifted its position in The Goldman Sachs Group by 2.5% in the third quarter. Tortoise Investment Management LLC now owns 726 shares of the investment management company’s stock worth $654,000 after buying an additional 18 shares during the last quarter. Endeavor Private Wealth Inc. increased its position in The Goldman Sachs Group by 4.4% during the third quarter. Endeavor Private Wealth Inc. now owns 428 shares of the investment management company’s stock valued at $386,000 after acquiring an additional 18 shares during the last quarter. Spectrum Planning & Advisory Services Inc. increased its position in The Goldman Sachs Group by 14.6% during the third quarter. Spectrum Planning & Advisory Services Inc. now owns 598 shares of the investment management company’s stock valued at $539,000 after acquiring an additional 76 shares during the last quarter. CFM Wealth Partners LLC increased its position in The Goldman Sachs Group by 0.7% during the third quarter. CFM Wealth Partners LLC now owns 4,570 shares of the investment management company’s stock valued at $4,115,000 after acquiring an additional 32 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in shares of The Goldman Sachs Group by 13.9% in the third quarter. Maryland State Retirement & Pension System now owns 17,715 shares of the investment management company’s stock valued at $15,950,000 after acquiring an additional 2,165 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 1.4%

NYSE GS opened at $914.16 on Friday. The company’s 50-day moving average price is $924.28 and its 200-day moving average price 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 cap of $263.67 billion, a PE ratio of 13.14, a PEG ratio of 0.87 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 12 month low of $754.00 and a 12 month high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating 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 20.21%. The company had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. During the same quarter last year, the business posted $12.25 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 28.76%.

Recent The Goldman Sachs Group Headlines

Investors following GS have been watching these headlines:

• Positive Sentiment: Goldman, HSBC and other banks are backing a $270 million stablecoin initiative, Project Faro, as banks seek to retain deposits amid competition from fintech and digital assets. The venture could create strategic opportunities, though its financial contribution to Goldman is not specified. Article: Goldman Sachs, Citi and Other Banks Commit $270M to Joint Stablecoin Venture
• Neutral Sentiment: Goldman now expects additional Federal Reserve tightening, including a March rate hike, following hot inflation data. Higher rates can support some lending income, but may also pressure economic activity, markets and borrowers. Article: Why Goldman Sachs is now changing its Federal Reserve interest-rate forecast
• 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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating for the company in a report on Monday, November 2nd. Loop Capital set a $1,050.00 price target on shares of The Goldman Sachs Group in a report on Thursday, October 8th. Freedom Broker raised shares of 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. 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 for the company in a research note on Friday, September 25th. Finally, Keefe, Bruyette & Woods dropped their target price on 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1,052.04.

Insider Buying and Selling

In other news, insider Ericka T. Leslie sold 250 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the sale, the insider owned 10,710 shares of the company’s stock, valued at approximately $9,534,577.50. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 12,500 shares of company stock worth $11,380,508. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group 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.