Convergence Financial LLC Sells 2,546 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Convergence Financial reduced its Goldman Sachs stake by 51.8% in the third quarter, selling 2,546 shares and retaining 2,367 shares valued at approximately $2.13 million. Institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported strong quarterly results, with earnings of $17.01 per share and revenue of $18.68 billion, exceeding estimates and representing 23% year-over-year revenue growth.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $1,049.52 price target. CEO David Solomon also sold 12,000 shares worth roughly $10.9 million, while the company announced a quarterly dividend of $5.00 per share.

Convergence Financial LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 51.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,367 shares of the investment management company's stock after selling 2,546 shares during the quarter. Convergence Financial LLC's holdings in The Goldman Sachs Group were worth $2,131,000 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. BlackRock Inc. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $24,172,123,000. Bank of America Corp DE bought a new stake in shares of The Goldman Sachs Group during the second quarter worth approximately $6,756,772,000. Orange County Employees Retirement System acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $69,537,544,000. Bank of New York Mellon Corp acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $2,560,028,000. Finally, International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $2,024,921,000. 71.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GS shares. Weiss Ratings cut shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 9th. Evercore reiterated an "outperform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Loop Capital set a $1,050.00 price target on The Goldman Sachs Group in a research note on Thursday, October 8th. Wells Fargo & Company cut their price target on The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an "overweight" rating on the stock in a research note on Friday, September 25th. Finally, Bank of America raised their price target on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $1,049.52.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David Solomon sold 12,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total value of $10,928,640.00. Following the sale, the chief executive officer directly owned 159,180 shares in the company, valued at approximately $144,968,409.60. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ericka Leslie sold 250 shares of the stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the sale, the insider owned 10,710 shares in the company, valued at approximately $9,534,577.50. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $926.23 on Thursday. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.10 and a quick ratio of 0.63. The stock has a market cap of $269.69 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.83 and a beta of 1.29. The stock has a 50-day moving average of $951.75 and a 200-day moving average of $958.39. The Goldman Sachs Group, Inc. has a one year low of $754.00 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating analysts' consensus estimates of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same period last year, the company posted $12.25 EPS. The Goldman Sachs Group's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 70.89 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 paid a $5.00 dividend. This represents a $20.00 annualized dividend and a yield of 2.2%. 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: An analyst upgrade helped support GS shares. Goldman’s recent earnings showed substantial upside versus estimates, with earnings per share of $17.01 versus a $12.86 consensus and revenue growth of 23% year over year. Goldman Sachs Shares Climb on Analyst Upgrade
• Positive Sentiment: Goldman Sachs and Morgan Stanley are reportedly positioned to lead a planned Anthropic initial public offering. The mandate could generate underwriting and advisory fees while strengthening Goldman’s role in AI-related capital markets. Cramer Says Anthropic’s IPO Makes Goldman Sachs a Buy
• Positive Sentiment: Goldman ranked first by value among consumer M&A advisers in the first three quarters, advising on 10 transactions worth $57.14 billion. Continued deal activity could benefit its investment-banking revenue. Goldman Sachs Leads Consumer M&A Advisers
• Positive Sentiment: Goldman is using EquiLend’s distributed-ledger platform for securities finance, potentially improving operational efficiency and reducing reconciliation costs. The near-term earnings impact is likely limited, but the move supports longer-term modernization. EquiLend’s 1Source Adds Goldman Sachs
• Neutral Sentiment: Goldman’s research on AI’s effect on employment and its warnings about CoreWeave’s potentially approaching $100 billion of debt highlight both the commercial opportunity and financial risks surrounding the AI investment cycle. Goldman Sachs on CoreWeave Debt
• Negative Sentiment: CEO David Solomon sold 12,000 shares for approximately $10.9 million, reducing his direct holdings by 7.01%. The sale may weigh modestly on sentiment, although it does not by itself indicate deteriorating fundamentals. SEC Filing for David Solomon Share Sale

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.

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