42,149 The Goldman Sachs Group, Inc. $GS Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Key Points

• Migdal Insurance & Financial Holdings increased its Goldman Sachs stake by 13,296.2%, adding 42,149 shares in the third quarter to hold 42,466 shares valued at about $38.2 million.
• Goldman Sachs reported quarterly earnings of $17.01 per share, beating the $12.86 consensus estimate; revenue rose 23% year over year to $18.68 billion.
• Insiders sold 12,500 shares worth about $11.4 million over the past 90 days. Goldman also announced a $5 quarterly dividend, equivalent to a 2.2% annualized yield.

Migdal Insurance & Financial Holdings Ltd. increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 13,296.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,466 shares of the investment management company's stock after acquiring an additional 42,149 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in The Goldman Sachs Group were worth $38,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GS. BlackRock Inc. acquired a new position in The Goldman Sachs Group in the 2nd quarter worth about $24,172,123,000. Bank of America Corp DE acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $6,756,772,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $69,537,544,000. Bank of New York Mellon Corp bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $2,560,028,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $974,380,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling

In other news, insider Ericka T. Leslie sold 100 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $926.28, for a total value of $92,628.00. Following the transaction, the insider owned 10,460 shares of the company's stock, valued at $9,688,888.80. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 12,000 shares of The Goldman Sachs Group 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 completion of the transaction, the chief executive officer directly owned 159,180 shares in the company, valued at approximately $144,968,409.60. This represents a 7.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,500 shares of company stock valued at $11,380,508 in the last ninety days. Company insiders own 0.55% of the company's stock.

More 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 Stock Up 0.3%

Shares of NYSE:GS traded up $2.45 on Friday, reaching $916.05. The company had a trading volume of 1,265,137 shares, compared to its average volume of 2,098,710. The stock has a market capitalization of $264.22 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.85 and a beta of 1.29. The stock has a 50-day moving average price of $921.83 and a 200 day moving average price of $956.03. The Goldman Sachs Group, Inc. has a twelve month low of $754.00 and a twelve month high of $1,153.99. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 3.20.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $16.83 billion. During the same quarter in the prior year, the firm posted $12.25 EPS. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on GS. Wells Fargo & Company dropped their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of The Goldman Sachs Group from $955.00 to $970.00 and gave the company a "neutral" rating in a research note on Friday, October 16th. HSBC boosted their target price on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a "hold" rating in a research report on Monday, September 28th. Weiss Ratings lowered shares of The Goldman Sachs Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, October 28th. Finally, Freedom Broker upgraded shares of The Goldman Sachs Group from a "hold" rating to a "buy" rating and cut their price target for the company from $1,200.00 to $1,100.00 in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $1,052.04.

About The Goldman Sachs Group

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.

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