The Goldman Sachs Group, Inc. $GS Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd cut its Goldman Sachs stake by 92.6% in the third quarter, selling 27,761 shares and retaining 2,228 shares valued at about $2.0 million. Institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported a strong third quarter, with revenue up 23% year over year to $18.68 billion and EPS of $17.01, well above the $12.86 consensus estimate. Equities trading and investment-banking fees were the primary growth drivers.
• Analysts have a consensus “Hold” rating and an average price target of $1,055.09, while Goldman declared a quarterly dividend of $5.00 per share, equivalent to a 2.2% annualized yield.

Perpetual Ltd reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 92.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,228 shares of the investment management company's stock after selling 27,761 shares during the quarter. Perpetual Ltd's holdings in The Goldman Sachs Group were worth $2,006,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GS. Strive Financial Group LLC lifted its holdings in The Goldman Sachs Group by 316.7% during the 2nd quarter. Strive Financial Group LLC now owns 25 shares of the investment management company's stock worth $25,000 after buying an additional 19 shares during the period. BOK Financial Private Wealth Inc. grew its position in shares of The Goldman Sachs Group by 188.9% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company's stock valued at $26,000 after buying an additional 17 shares during the last quarter. Turim 21 Investimentos Ltda. bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $25,000. Steph & Co. acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $29,000. Institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. Oppenheimer downgraded shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Loop Capital set a $1,050.00 price target on shares of The Goldman Sachs Group in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $1,055.09.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Major earnings beat: Third-quarter revenue rose 23% year over year to $18.68 billion, while net income increased 29% to $5.29 billion. Diluted EPS of $17.01 exceeded the $12.86 consensus estimate by $4.15. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Equities and investment banking led results: Equities trading revenue surged 72% to $6.44 billion, supported by stronger financing and derivatives activity. Investment-banking fees rose 21% as underwriting and dealmaking recovered. Goldman Q3 Earnings Beat on Strong Equities and IB Revenues
• Positive Sentiment: Wealth management reached a new record: Goldman supervised $2.1 trillion in wealth-management assets and conducted its largest-ever private-wealth-advisor training class, supporting the firm’s longer-term asset-gathering strategy. Goldman Sachs Supervised $2.1 Trillion in Wealth Management Assets
• Neutral Sentiment: CEO David Solomon said there is no succession transition or timetable underway, removing an immediate leadership overhang. He also described Goldman as well positioned despite geopolitical and economic uncertainty. Goldman Sachs profits jump as CEO says no plans to exit
• Negative Sentiment: Mixed business quality and valuation concerns: Fixed-income and rates trading fell short of expectations, total revenue declined sequentially from the prior quarter, and analysts argue the stock already reflects a premium valuation. Persistent inflation, elevated interest rates, geopolitical risks and uncertainty around AI-related financing could also pressure activity and multiples. Goldman Sachs Q3: The Business Deserves a Premium. The Stock Already Has One

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $892.43 on Wednesday. The firm has a market capitalization of $259.85 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.98 and a beta of 1.29. The firm's 50-day moving average price is $984.44 and its 200-day moving average price is $989.10. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group, Inc. has a 1-year low of $740.01 and a 1-year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results 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 business had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%. The firm's revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted $12.25 EPS. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be given a dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's payout ratio is presently 30.87%.

About The Goldman Sachs Group

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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