Verus Wealth Management LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Verus Wealth Management LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,025 shares of the investment management company’s stock, valued at approximately $923,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Strive Financial Group LLC increased its position in shares of The Goldman Sachs Group by 316.7% during the 2nd quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. BOK Financial Private Wealth Inc. lifted its holdings in The Goldman Sachs Group by 188.9% during 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 last quarter. Turim 21 Investimentos Ltda. acquired a new position in The Goldman Sachs Group in the first quarter valued at about $25,000. Steph & Co. acquired a new position in The Goldman Sachs Group in the first quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. acquired a new position in The Goldman Sachs Group in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Key Headlines Impacting The Goldman Sachs Group

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. Rothschild & Co Redburn boosted their target price on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Finally, Barclays increased their price target on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1,055.09.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded down $1.52 during trading on Tuesday, reaching $892.43. The company’s stock had a trading volume of 4,936,975 shares, compared to its average volume of 2,213,654. The stock has a 50-day moving average price of $984.44 and a two-hundred day moving average price of $989.10. The stock has a market capitalization of $259.85 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.29. 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 Goldman Sachs Group, Inc. has a one year low of $740.01 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued 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 15.53% and a return on equity of 19.16%. 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 firm earned $12.25 EPS. The company’s revenue was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

The Goldman Sachs Group Company 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.