The Goldman Sachs Group, Inc. $GS Shares Sold by First Fiduciary Investment Counsel Inc.

Key Points

• First Fiduciary Investment Counsel cut its Goldman Sachs stake by 4.7%, selling 1,094 shares and retaining 22,057 shares worth approximately $19.9 million. Institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported strong quarterly results, with EPS of $17.01 versus the $12.86 consensus and revenue up 23% year over year to $18.68 billion. Analysts maintain a consensus “Hold” rating and an average price target of $1,049.52.
• CEO David Solomon sold 12,000 shares for about $10.9 million, reducing his direct holdings by 7.01%; the company also announced a $5 quarterly dividend, equivalent to a $20 annualized payout and a 2.2% yield.

First Fiduciary Investment Counsel Inc. trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,057 shares of the investment management company's stock after selling 1,094 shares during the period. The Goldman Sachs Group comprises approximately 3.8% of First Fiduciary Investment Counsel Inc.'s investment portfolio, making the stock its 4th biggest position. First Fiduciary Investment Counsel Inc.'s holdings in The Goldman Sachs Group were worth $19,859,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GS. BlackRock Inc. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $24,172,123,000. Bank of America Corp DE acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter worth $6,756,772,000. Orange County Employees Retirement System acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter worth $69,537,544,000. Bank of New York Mellon Corp acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter worth $2,560,028,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth $2,024,921,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GS. TD Cowen began coverage on The Goldman Sachs Group in a report on Thursday, October 8th. They set a "buy" rating and a $1,050.00 target price for the company. UBS Group set a $942.00 price target on The Goldman Sachs Group in a research note on Monday. Morgan Stanley set a $1,145.00 price target on The Goldman Sachs Group in a research note on Wednesday, July 15th. Bank of America boosted their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a "hold" rating to a "buy" rating in a research note on Saturday, October 24th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and a consensus price target of $1,049.52.

Insiders Place Their Bets

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

The Goldman Sachs Group Price Performance

NYSE GS opened at $926.23 on Thursday. The company has a 50 day simple moving average of $951.75 and a 200-day simple moving average of $958.39. 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 firm has a market capitalization of $269.69 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 0.83 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 52-week low of $754.00 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 EPS 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 firm had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same period in the previous year, the firm posted $12.25 earnings per share. The firm's revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 70.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a yield of 2.2%. 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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