5,372 The Goldman Sachs Group, Inc. $GS Shares Sold by Waycross Partners LLC

Key Points

• Waycross Partners cut its Goldman Sachs stake by 10.7%, selling 5,372 shares in the third quarter; it still held 44,903 shares valued at about $40.4 million.
• Goldman Sachs reported quarterly EPS of $17.01 and revenue of $18.68 billion, beating analyst estimates; revenue rose 23% year over year.
• The stock was trading at $865.88, while analysts’ consensus rating was Hold with an average price target of $1,052.04. Goldman also declared a $5-per-share quarterly dividend.

Waycross Partners LLC reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,903 shares of the investment management company's stock after selling 5,372 shares during the period. The Goldman Sachs Group comprises 3.1% of Waycross Partners LLC's investment portfolio, making the stock its 11th largest holding. Waycross Partners LLC's holdings in The Goldman Sachs Group were worth $40,429,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GS. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at $69,537,544,000. BlackRock Inc. acquired a new position in The Goldman Sachs Group during the 2nd quarter worth $24,172,123,000. Bank of America Corp DE acquired a new position in The Goldman Sachs Group during the 2nd quarter worth $6,756,772,000. Bank of New York Mellon Corp acquired a new position in The Goldman Sachs Group during the 2nd quarter worth $2,560,028,000. Finally, International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter worth about $2,024,921,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
• Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
• Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
• Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings lowered The Goldman Sachs Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, October 28th. TD Cowen began coverage on The Goldman Sachs Group in a research report on Thursday, October 8th. They set a "buy" rating and a $1,050.00 price objective for the company. Royal Bank Of Canada cut their target price on shares of The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a "sector perform" rating on the stock in a research note on Wednesday, October 14th. Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Finally, HSBC lifted their price target on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a "hold" rating in a research note on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $1,052.04.

Insider Buying and Selling

In related news, insider Ericka T. Leslie sold 100 shares of the stock in a transaction 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 directly owned 10,460 shares of the company's stock, valued at $9,688,888.80. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David M. Solomon sold 12,000 shares of The Goldman Sachs Group stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 12,500 shares of company stock worth $11,380,508. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Down 0.4%

The Goldman Sachs Group stock traded down $3.07 during midday trading on Friday, reaching $865.88. The company's stock had a trading volume of 2,481,265 shares, compared to its average volume of 2,283,557. The company has a market cap of $252.12 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.85 and a beta of 1.29. 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 business has a 50-day simple moving average of $932.40 and a 200-day simple moving average of $956.58. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last released 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 business had revenue of $18.68 billion during the quarter, compared to analysts' expectations of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.25 EPS. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. 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 2.3%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 28.76%.

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.

Goldman Sachs also provides consumer financial products and digital financial services.

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