The Goldman Sachs Group, Inc. $GS Stock Holdings Lowered by Danske Bank A S

Danske Bank A S cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,529 shares of the investment management company’s stock after selling 8,234 shares during the quarter. Danske Bank A S owned approximately 0.08% of The Goldman Sachs Group worth $195,854,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in The Goldman Sachs Group in the second quarter worth about $24,172,123,000. Fisher Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 1.7% during the third quarter. Fisher Asset Management LLC now owns 7,081,969 shares of the investment management company’s stock valued at $6,376,323,000 after purchasing an additional 117,856 shares in the last quarter. Bank of America Corp DE bought a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $6,756,772,000. Orange County Employees Retirement System bought a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $69,537,544,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $2,560,028,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Up 0.3%

GS stock traded up $2.45 during midday trading on Friday, hitting $916.05. The company’s stock had a trading volume of 1,265,137 shares, compared to its average volume of 2,098,710. The firm’s 50-day moving average is $921.83 and its 200-day moving average is $956.03. 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 Goldman Sachs Group, Inc. has a 12 month low of $754.00 and a 12 month high of $1,153.99. The company has a market cap of $264.22 billion, a PE ratio of 13.17, a P/E/G ratio of 0.85 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results 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 return on equity of 20.21% and a net margin of 15.77%. The business had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. During the same quarter last year, the company earned $12.25 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a yield of 2.2%. The Goldman Sachs Group’s payout ratio is 28.76%.

Insider Activity

In related news, CEO David M. Solomon sold 12,000 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the transaction, the chief executive officer owned 159,180 shares in the company, valued at $144,968,409.60. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ericka T. Leslie sold 250 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the sale, the insider directly owned 10,710 shares of the company’s stock, valued at approximately $9,534,577.50. This trade represents a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,500 shares of company stock worth $11,380,508 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets dropped their price target on The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating on the stock in a research report on Monday, October 19th. UBS Group reduced their price objective on The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Wells Fargo & Company dropped their target price on 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. Weiss Ratings cut The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Finally, TD Cowen initiated coverage on The Goldman Sachs Group in a report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $1,052.04.

Latest The Goldman Sachs Group News

These are some of the GS news items that stood out recently:

• Positive Sentiment: Goldman is among banks committing $270 million to a joint stablecoin venture, a move that could help it participate in evolving digital-payment and deposit markets; the article does not indicate a near-term earnings impact. Goldman Sachs, Citi and Other Banks Commit $270M to Joint Stablecoin Venture
• Negative Sentiment: Goldman’s latest commentary points to a harder-to-read economic outlook and the possibility of higher rates, while its market outlook anticipates slower earnings growth in 2027. A less certain rate and growth environment could dampen deal activity and investor risk appetite. Goldman Sachs sees a new problem emerging for the Federal Reserve Goldman’s outlook for earnings growth and the bull market
• Negative Sentiment: A Goldman survey found private-credit investors increasingly concerned about defaults, valuations and liquidity. Heightened credit stress could pressure sentiment toward lenders and alternative-asset exposures. Private Credit Investors Are Getting Nervous About Defaults, Goldman Sachs Survey Finds

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.