Provenance Wealth Advisors LLC Purchases 1,132 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Provenance Wealth Advisors increased its Goldman Sachs stake by 1,132 shares in the third quarter, a 1,529.7% increase, bringing its holdings to 1,206 shares valued at about $1.09 million.
• Goldman Sachs reported quarterly EPS of $17.01, beating the $12.86 consensus, while revenue of $18.68 billion also topped expectations and grew 23% year over year.
• The company declared a quarterly dividend of $5 per share, equivalent to a 2.2% yield. Analysts’ consensus rating was “Hold,” with an average price target of $1,052.04.

Provenance Wealth Advisors LLC increased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1,529.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,206 shares of the investment management company's stock after purchasing an additional 1,132 shares during the quarter. Provenance Wealth Advisors LLC's holdings in The Goldman Sachs Group were worth $1,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GS. Lyell Wealth Management LP raised its position in shares of The Goldman Sachs Group by 4.4% during the 3rd quarter. Lyell Wealth Management LP now owns 695 shares of the investment management company's stock valued at $626,000 after acquiring an additional 29 shares during the last quarter. Associated Banc Corp bought a new position in shares of The Goldman Sachs Group in the 3rd quarter worth $2,683,000. Fischer Financial Services Inc. boosted its position in shares of The Goldman Sachs Group by 2.2% in the 3rd quarter. Fischer Financial Services Inc. now owns 3,537 shares of the investment management company's stock worth $3,185,000 after purchasing an additional 75 shares during the last quarter. Integrity Advisory Solutions LLC boosted its position in shares of The Goldman Sachs Group by 13.6% in the 3rd quarter. Integrity Advisory Solutions LLC now owns 410 shares of the investment management company's stock worth $370,000 after purchasing an additional 49 shares during the last quarter. Finally, First Nebraska Trust Co acquired a new stake in shares of The Goldman Sachs Group during the third quarter worth $1,116,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $929.21 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.61 and a debt-to-equity ratio of 3.20. The Goldman Sachs Group, Inc. has a 12-month low of $754.00 and a 12-month high of $1,153.99. The firm has a fifty day moving average of $939.32 and a 200-day moving average of $957.43. The firm has a market capitalization of $268.01 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.84 and a beta of 1.29.

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, topping 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 20.21% and a net margin of 15.77%. The firm's revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business posted $12.25 EPS. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group's dividend payout ratio is 28.76%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Loop Capital set a $1,050.00 price objective on The Goldman Sachs Group in a report on Thursday, October 8th. JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $955.00 to $970.00 and gave the stock a "neutral" rating in a report on Friday, October 16th. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. Bank of America boosted their target price 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. Finally, Barclays upped their price target on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. One investment 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 company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $1,052.04.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs and Apollo are reportedly in talks related to selling a $40 billion SpaceX AI deal. If Goldman helps arrange or execute the transaction, it could generate advisory or financing fees. Article: Goldman, Apollo in Talks to Sell SpaceX’s $40 Billion AI Deal
• Positive Sentiment: Goldman is also reported to be in talks to acquire a controlling stake in a South Korean mobility app. A transaction could create investment opportunities, although terms and the outcome were not reported. Article: Goldman Sachs Enters Talks For Controlling Stake In South Korean Mobility App
• Neutral Sentiment: Goldman’s strategist said corporate leaders may accelerate plans to expand computing capacity amid uncertainty about future policy. That could support AI-related investment, but the article does not identify a direct or immediate benefit to Goldman’s results. Article: The AI Trade Has Been Sold to Death, but Goldman Strategist Highlights Silver Lining
• Negative Sentiment: Goldman has reportedly limited access to certain AI coding tools to engineers and quantitative specialists after reviewing productivity and risk controls. The move may limit broader employee use of the tools, though the financial impact is unclear. Article: Goldman Benches Its Vibe Coders While BNY Lets Everyone Build

Insider Activity

In other The Goldman Sachs Group news, insider Ericka Leslie sold 100 shares of the stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total value of $92,628.00. Following the completion of the sale, the insider directly owned 10,460 shares in the company, valued at $9,688,888.80. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Solomon sold 12,000 shares of the firm's stock in a transaction dated Tuesday, October 27th. The stock was 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 represents a 7.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,500 shares of company stock valued at $11,380,508 over the last 90 days. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Company 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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.