The Goldman Sachs Group, Inc. $GS Stock Purchased by Phoenix Financial Ltd.

Phoenix Financial Ltd. raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 42.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,664 shares of the investment management company’s stock after acquiring an additional 2,576 shares during the period. Phoenix Financial Ltd.’s holdings in The Goldman Sachs Group were worth $7,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of The Goldman Sachs Group by 13,296.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 42,466 shares of the investment management company’s stock valued at $38,235,000 after buying an additional 42,149 shares during the period. Drive Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 16.7% in the 3rd quarter. Drive Wealth Management LLC now owns 1,166 shares of the investment management company’s stock valued at $1,050,000 after buying an additional 167 shares in the last quarter. Cornerstone Advisory LLC raised its stake in The Goldman Sachs Group by 3.1% during the 3rd quarter. Cornerstone Advisory LLC now owns 786 shares of the investment management company’s stock worth $708,000 after buying an additional 24 shares during the period. Condor Capital Management raised its stake in The Goldman Sachs Group by 0.7% during the 3rd quarter. Condor Capital Management now owns 5,156 shares of the investment management company’s stock worth $4,643,000 after buying an additional 35 shares during the period. Finally, AlpenGlobal Capital LLC lifted its holdings in The Goldman Sachs Group by 12.5% during the third quarter. AlpenGlobal Capital LLC now owns 2,269 shares of the investment management company’s stock worth $2,043,000 after acquiring an additional 252 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE GS traded up $2.45 on Friday, hitting $916.05. 1,265,137 shares of the stock were exchanged, compared to its average volume of 2,098,710. The company has a market capitalization 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 company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.61. The business’s fifty day moving average is $921.83 and its 200 day moving average is $956.03. The Goldman Sachs Group, Inc. has a 52 week low of $754.00 and a 52 week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The firm had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $12.25 earnings per share. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be paid a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group’s dividend payout ratio is 28.76%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Ericka T. Leslie sold 250 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total value of $222,562.50. Following the transaction, the insider directly owned 10,710 shares of the company’s stock, valued at $9,534,577.50. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $10,928,640.00. Following the transaction, the chief executive officer owned 159,180 shares of the company’s stock, valued at approximately $144,968,409.60. This represents a 7.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,500 shares of company stock worth $11,380,508. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GS shares. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $955.00 to $970.00 and gave the stock a “neutral” rating in a research report on Friday, October 16th. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Wall Street Zen cut The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. UBS Group lowered their target price on The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating for the company in a research note on Monday, November 2nd. Finally, TD Cowen started coverage on shares of The Goldman Sachs Group in a report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 target price on the stock. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1,052.04.

Key Headlines Impacting The Goldman Sachs Group

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 Company 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.