The Goldman Sachs Group, Inc. $GS Shares Newly Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 10,144 shares of the investment management company’s stock, valued at approximately $9,134,000. The Goldman Sachs Group comprises approximately 1.2% of Sanders Morris Harris LLC’s portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of GS. BlackRock Inc. purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $24,172,123,000. Bank of America Corp DE purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at about $6,756,772,000. Orange County Employees Retirement System purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $69,537,544,000. Bank of New York Mellon Corp bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $2,560,028,000. Finally, Corient Private Wealth LLC boosted its position in shares of The Goldman Sachs Group by 1,657.7% during the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after purchasing an additional 2,448,767 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GS. Rothschild & Co Redburn upped their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Wall Street Zen lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Royal Bank Of Canada cut their target price on shares of The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, UBS Group decreased their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1,050.55.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs reported third-quarter EPS of $17.01 on revenue of $18.68 billion, well above estimates of $12.86 and $16.83 billion, respectively. Revenue increased 23% year over year, while net earnings rose 29% to $5.29 billion. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Results were driven by a 72% surge in equities revenue to $6.44 billion, a 21% increase in investment-banking fees and strong financing and wealth-management activity. The board also declared a $5 quarterly dividend, equivalent to a 2.3% annualized yield. Goldman Q3 Earnings Beat on Strong Equities and Investment Banking Revenues
• Positive Sentiment: CEO David Solomon said Goldman has a “big, durable, diverse business,” sees a favorable market environment and does not anticipate a leadership transition. He also pointed to ongoing M&A and financing opportunities. Goldman Sachs CEO Solomon on earnings
• Neutral Sentiment: Citigroup cut its GS price target from $1,050 to $1,000 and adopted a Neutral rating, while RBC lowered its target from $1,220 to $1,010 with a Sector Perform rating. Morgan Stanley maintained a Hold rating and its $1,145 target, signaling that much of the earnings strength may already be reflected in the valuation. Analysts lower their forecasts on Goldman Sachs after Q3 results
• Negative Sentiment: Hotter-than-expected inflation and Solomon’s warning that abrupt interest-rate moves could create headwinds are weighing on financial stocks. Rising rates may also pressure dealmaking, financing demand and valuations, while AI-related infrastructure costs remain a longer-term risk. Why Is Goldman Sachs Stock Falling Wednesday?

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded down $14.84 during mid-day trading on Wednesday, hitting $877.07. 3,403,578 shares of the company’s stock traded hands, compared to its average volume of 2,219,712. The company has a market capitalization of $255.38 billion, a P/E ratio of 13.54, a PEG ratio of 0.98 and a beta of 1.29. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The company’s 50-day moving average is $984.44 and its two-hundred day moving average is $989.10. The Goldman Sachs Group, Inc. has a 1 year low of $740.01 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter last year, the firm earned $12.25 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio is 30.87%.

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.