Ninety One UK Ltd Sells 230,751 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Ninety One UK Ltd reduced its Goldman Sachs position by 98.8% in the third quarter, selling 230,751 shares and retaining 2,841 shares worth approximately $2.56 million.
• Goldman Sachs reported a strong third quarter, with earnings of $17.01 per share and revenue of $18.68 billion, surpassing estimates; revenue increased 23% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $1,050.55, while Goldman declared a $5 quarterly dividend equivalent to a 2.2% annual yield.

Ninety One UK Ltd cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 98.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,841 shares of the investment management company's stock after selling 230,751 shares during the quarter. Ninety One UK Ltd's holdings in The Goldman Sachs Group were worth $2,558,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GS. BlackRock Inc. purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $24,172,123,000. Bank of America Corp DE acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $6,756,772,000. Orange County Employees Retirement System acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $69,537,544,000. Bank of New York Mellon Corp purchased a new position in The Goldman Sachs Group in the second quarter valued at approximately $2,560,028,000. Finally, Corient Private Wealth LLC raised its holdings in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company's stock valued at $2,282,312,000 after buying an additional 2,448,767 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GS. Barclays lifted their price target on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $1,299.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. UBS Group dropped their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Evercore restated an "outperform" rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $1,050.55.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: New Buy rating: TD Cowen initiated coverage of GS with a Buy rating, providing fresh bullish support for the stock. TD Cowen initiates coverage of Goldman Sachs Group at Buy
• Positive Sentiment: Exceptional Q3 performance: Goldman reported $17.01 in earnings per share and $18.68 billion in revenue, exceeding estimates of $12.86 and $16.83 billion, respectively. Earnings rose 39% year over year, supported by a 72% increase in equities revenue, stronger investment-banking fees and record advisory activity. Wall Street earnings split
• Positive Sentiment: Growth opportunities remain substantial: Management pointed to strong deal pipelines, financing and wealth-management growth, elevated capital-markets activity and $4.1 trillion in assets under supervision. Goldman also declared a $5 quarterly dividend. Zacks Analyst Blog highlights Goldman Sachs
• Neutral Sentiment: CEO David Solomon said the underlying economy remains strong, but abrupt interest-rate moves are creating headwinds. Rising AI infrastructure costs and uncertainty around rates could temper future profitability. Goldman CEO discusses rate headwinds
• Negative Sentiment: Citigroup and RBC lowered their price targets and retained Neutral or Sector Perform ratings, signaling that strong results may already be reflected in the valuation. Analysts lower Goldman Sachs forecasts
• Negative Sentiment: Hotter inflation data has increased concern that interest rates may remain restrictive, weighing on bank valuations and dealmaking expectations. What Goldman Sachs sees next

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $891.51 on Friday. 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 Goldman Sachs Group, Inc. has a 1-year low of $740.01 and a 1-year high of $1,153.99. The company has a market capitalization of $259.58 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.97 and a beta of 1.29. The business has a 50-day moving average of $977.91 and a 200-day moving average of $990.11.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating the consensus estimate of $12.86 by $4.15. The business had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The company's revenue was up 23.0% on a year-over-year basis. During the same period last year, the business posted $12.25 EPS. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

The Goldman Sachs Group Profile

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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