2,776 The Goldman Sachs Group, Inc. $GS Shares Sold by Formuepleje A S

Key Points

• Formuepleje A S reduced its Goldman Sachs stake by 10.1%, selling 2,776 shares and retaining 24,791 shares valued at approximately $22.3 million. Institutional investors collectively own 71.21% of the company.
• Goldman Sachs reported a strong quarter, with EPS of $17.01 and revenue of $18.68 billion, surpassing estimates of $12.86 and $16.83 billion; revenue increased 23% year over year. The company also declared a $5 quarterly dividend, representing a 2.3% yield.
• Despite the earnings beat, analysts maintain a consensus “Hold” rating with an average target price of $1,050.55, citing interest-rate and inflation risks. Shares recently traded at $881.79, below their 50-day and 200-day moving averages.

Formuepleje A S lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 24,791 shares of the investment management company's stock after selling 2,776 shares during the quarter. The Goldman Sachs Group comprises approximately 1.9% of Formuepleje A S's holdings, making the stock its 16th largest position. Formuepleje A S's holdings in The Goldman Sachs Group were worth $22,321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sky Investment Group LLC grew its position in The Goldman Sachs Group by 0.9% during the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company's stock worth $1,181,000 after purchasing an additional 10 shares in the last quarter. Warren Street Wealth Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 3.9% in the second quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company's stock valued at $272,000 after purchasing an additional 10 shares in the last quarter. First Financial Group Corp lifted its holdings in shares of The Goldman Sachs Group by 4.7% in the first quarter. First Financial Group Corp now owns 246 shares of the investment management company's stock valued at $208,000 after purchasing an additional 11 shares in the last quarter. Meadow Creek Wealth Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 1.7% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company's stock valued at $569,000 after purchasing an additional 11 shares in the last quarter. Finally, DecisionMap Wealth Management LLC boosted its position in shares of The Goldman Sachs Group by 3.2% in the second quarter. DecisionMap Wealth Management LLC now owns 350 shares of the investment management company's stock worth $354,000 after buying an additional 11 shares during the period. Institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GS. Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a report on Wednesday, July 15th. TD Cowen began coverage on The Goldman Sachs Group in a research note on Thursday, October 8th. They issued a "buy" rating and a $1,050.00 price objective for the company. Evercore restated an "outperform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Wall Street Zen lowered The Goldman Sachs Group from a "buy" rating to a "hold" rating in a research report on Sunday, September 13th. Finally, Zacks Research cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 18th. One 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 MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $1,050.55.

The Goldman Sachs Group Stock Up 0.3%

Shares of The Goldman Sachs Group stock traded up $3.07 on Thursday, hitting $881.79. 1,253,037 shares of the company traded hands, compared to its average volume of 2,214,510. The Goldman Sachs Group, Inc. has a 12-month low of $740.01 and a 12-month high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82. The company has a market cap of $256.75 billion, a PE ratio of 12.68, a PEG ratio of 0.98 and a beta of 1.29. The company has a 50-day moving average price of $980.74 and a 200 day moving average price of $989.49.

The Goldman Sachs Group (NYSE:GS - Get Free Report) 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 return on equity of 19.55% 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 period last year, the company earned $12.25 earnings per share. The Goldman Sachs Group's quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company 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. This represents a $20.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group's dividend payout ratio is presently 28.76%.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Q3 results were substantially above expectations. Goldman reported $17.01 in earnings per share on $18.68 billion of revenue, exceeding estimates of $12.86 and $16.83 billion, respectively. Revenue rose 23% year over year, supported by a 72% increase in equities revenue, a 21% rise in investment-banking fees and strong financing activity. Wall Street’s earnings split
• Positive Sentiment: Capital returns and recurring businesses remain supportive. The company declared a $5 quarterly dividend, or $20 annualized, while wealth-management assets reached a record $2.1 trillion. These results reinforce Goldman’s efforts to build a broader and more durable business. Goldman wealth-management assets
• Neutral Sentiment: CEO David Solomon said dealmaking and capital-markets activity remain strong and described the underlying economy as resilient. Goldman also continues expanding alternatives and private-market transactions, including a recapitalization of an Atlanta industrial portfolio. Goldman CEO on rates and the economy
• Negative Sentiment: Rate and inflation concerns are overshadowing the earnings beat. Solomon warned that abrupt interest-rate moves could create headwinds, while hotter inflation data pressured financial stocks and reduced expectations for an easy macroeconomic backdrop.
• Negative Sentiment: Analysts trimmed targets after the report. Citi lowered its target to $1,000 and RBC cut its target to $1,010, both maintaining neutral or sector-perform views. Morgan Stanley kept a Hold rating, citing late-cycle risks. Investors may therefore view much of Goldman’s strong performance as already reflected in the stock. Analyst target reductions

About The Goldman Sachs Group

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.

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