Comerica Bank Sells 3,991 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Comerica Bank trimmed its stake in The Goldman Sachs Group by 5.0% in Q3, selling 3,991 shares and leaving 76,048 shares valued at about $60.56 million.
• Goldman Sachs beat quarterly expectations with EPS of $13.55 vs. $11.52 est. and revenue of $15.71B, and raised its quarterly dividend to $4.50 (annualized $18, yield 2.3%).
• The stock is trading lower amid macro and private‑credit worries despite several price‑target increases; the consensus rating is a "Hold" (target ~$919.29) and insiders have sold ~117,283 shares (~$112M) in the past 90 days.

Comerica Bank cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,048 shares of the investment management company's stock after selling 3,991 shares during the quarter. Comerica Bank's holdings in The Goldman Sachs Group were worth $60,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in shares of The Goldman Sachs Group in the third quarter valued at approximately $26,000. First PREMIER Bank bought a new stake in The Goldman Sachs Group during the third quarter worth $28,000. Corundum Trust Company INC bought a new stake in The Goldman Sachs Group during the third quarter worth $29,000. Clearstead Trust LLC purchased a new position in The Goldman Sachs Group in the second quarter worth $31,000. Finally, Elevation Wealth Partners LLC boosted its position in The Goldman Sachs Group by 100.0% in the third quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company's stock worth $32,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman highlights that the current energy supply shock should spur investment in grid infrastructure and storage — a potential source of advisory, underwriting and asset-management fees for GS. Current energy supply shock will drive investment into grid infrastructure and storage solutions: GS
• Positive Sentiment: Several pieces note GS is deeply oversold technically and that analysts remain constructive (recent price-targets above current levels), which could support a relief rally if markets stabilize or capital-markets activity picks up. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Neutral Sentiment: Governance update — board member Lakshmi Mittal announced retirement. Routine board turnover can be relevant for long-term governance but is unlikely to drive immediate price action. Goldman Sachs Announces Retirement of Board Member Mittal
• Neutral Sentiment: Goldman trimmed a derivative-based stake in Siemens Energy to just under 5% — a portfolio move that signals repositioning but is not a major earnings driver for GS itself. Goldman Sachs Trims Derivative-Based Stake in Siemens Energy to Just Under 5%
• Negative Sentiment: Immediate sell pressure was linked to investor worries about the stability of the private credit market after a key bank announcement — contagion concerns in private markets tend to hit large universal banks and asset managers. Why Goldman Sachs (GS) Shares Are Sliding Today
• Negative Sentiment: Goldman’s elevated oil-price forecasts and widespread supply-shock commentary (Brent near $100+ forecasts and warning of much higher spikes) have helped push Treasury yields and a risk-off tone — that environment has weighed on financials and contributed to GS’s intraday weakness. Goldman Sachs forecasts oil at $100 a barrel for March
• Negative Sentiment: Macroeconomic outlook shifts — Goldman pushed back its Fed rate-cut timeline (now expecting cuts later in the year), which, together with oil-driven inflation risk, is keeping markets cautious and depressing risk assets including bank stocks. Goldman now sees first Fed rate cut in September, not June

The Goldman Sachs Group Trading Down 0.7%

Shares of GS opened at $781.99 on Friday. The business has a 50-day moving average of $910.83 and a 200 day moving average of $843.02. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $984.70. The firm has a market cap of $232.06 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.66 and a current ratio of 0.66.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.52 by $2.03. The business had revenue of $15.71 billion for the quarter, compared to analysts' expectations of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.72% and a net margin of 13.73%.The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $11.95 EPS. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, March 2nd. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $4.00. The Goldman Sachs Group's dividend payout ratio is currently 35.09%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GS. Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $971.00 to $1,000.00 and gave the company a "market perform" rating in a research report on Friday, January 16th. Argus boosted their price target on shares of The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a "buy" rating in a report on Friday, January 16th. Weiss Ratings restated a "hold (c+)" rating on shares of The Goldman Sachs Group in a research report on Monday, December 22nd. Bank of America raised their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a report on Friday, January 16th. Finally, Jefferies Financial Group boosted their target price on shares of The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a "buy" rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $919.29.

Insider Buying and Selling

In related news, insider Kathryn H. Ruemmler sold 9,589 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the sale, the insider owned 18,533 shares of the company's stock, valued at approximately $17,189,542.83. This represents a 34.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 4,863 shares of the firm's stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $923.75, for a total value of $4,492,196.25. Following the completion of the transaction, the chief accounting officer owned 10,301 shares of the company's stock, valued at approximately $9,515,548.75. This represents a 32.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 117,283 shares of company stock worth $112,016,033 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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