The Goldman Sachs Group, Inc. $GS Stock: Eurizon Capital SGR S.p.A. Trims Holdings

Eurizon Capital SGR S.p.A. trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% during the third quarter, Holdings Channel.com reports. The firm owned 51,977 shares of the investment management company’s stock after selling 572 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in The Goldman Sachs Group were worth $46,901,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GS. BlackRock Inc. acquired a new stake in The Goldman Sachs Group in the second quarter worth approximately $24,172,123,000. Bank of America Corp DE acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at $6,756,772,000. Orange County Employees Retirement System bought a new position in The Goldman Sachs Group during the second quarter valued at about $69,537,544,000. Bank of New York Mellon Corp bought a new position in The Goldman Sachs Group during the second quarter valued at about $2,560,028,000. Finally, Dimensional Fund Advisors LP boosted its stake in The Goldman Sachs Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,840,675 shares of the investment management company’s stock valued at $1,556,706,000 after buying an additional 9,770 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on GS. UBS Group reduced 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. Keefe, Bruyette & Woods dropped their price target on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a report on Wednesday, October 14th. Royal Bank Of Canada cut their price objective on 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, October 14th. Wall Street Zen downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Finally, TD Cowen started coverage on shares of The Goldman Sachs Group in a report on Thursday, October 8th. They issued a “buy” rating and a $1,050.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1,052.04.

Insider Activity

In other news, insider Ericka Leslie sold 100 shares of the stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total transaction of $92,628.00. Following the transaction, the insider owned 10,460 shares of the company’s stock, valued at approximately $9,688,888.80. This represents a 0.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Solomon sold 12,000 shares of the firm’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 transaction, the chief executive officer directly owned 159,180 shares in the company, valued at $144,968,409.60. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,500 shares of company stock valued at $11,380,508. 0.55% of the stock is currently owned by corporate insiders.

Recent The Goldman Sachs Group Headlines

These are some of the GS headlines that stood out recently:

• Positive Sentiment: Goldman and HSBC are reported to have struck a Saudi financing deal, potentially creating lending and financing opportunities for the banks. Goldman Sachs, HSBC Strike Major Saudi Financing Deal
• 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: 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 Stock Performance

Shares of GS stock opened at $916.05 on Friday. The stock’s 50-day moving average is $921.83 and its two-hundred day moving average is $956.03. The Goldman Sachs Group, Inc. has a fifty-two week low of $754.00 and a fifty-two week high of $1,153.99. The firm has a market cap of $264.22 billion, a P/E ratio of 13.17, a PEG ratio of 0.85 and a beta of 1.29. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.61.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results 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 business had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter last year, the firm earned $12.25 EPS. The Goldman Sachs Group’s revenue for the quarter was up 23.0% on a year-over-year basis. Analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 28.76%.

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.