The Goldman Sachs Group, Inc. $GS Stock: Assenagon Asset Management S.A. Raises Stake

Key Points

• Assenagon Asset Management increased its Goldman Sachs stake by 192.4% in the third quarter, bringing its holdings to 36,689 shares valued at approximately $33.0 million. Institutional investors collectively own 71.21% of the company.
• Goldman Sachs reported strong quarterly results, with EPS of $17.01 and revenue of $18.68 billion, surpassing estimates and representing 23% year-over-year revenue growth. However, analysts maintain a consensus “Hold” rating, citing valuation and interest-rate uncertainty.
• The company declared a quarterly dividend of $5.00 per share, equivalent to $20.00 annually and a 2.3% yield. Management sees solid capital-markets activity, but volatile interest rates and mixed post-earnings market reactions remain risks.

Assenagon Asset Management S.A. increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 192.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,689 shares of the investment management company's stock after acquiring an additional 24,140 shares during the quarter. Assenagon Asset Management S.A.'s holdings in The Goldman Sachs Group were worth $33,033,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GS. Audent Global Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 10.1% in the fourth quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock valued at $4,604,000 after purchasing an additional 479 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in The Goldman Sachs Group during the second quarter worth $53,720,000. Envestnet Portfolio Solutions Inc. grew its holdings in The Goldman Sachs Group by 14.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company's stock worth $17,606,000 after buying an additional 2,230 shares in the last quarter. Sax Wealth Advisors LLC raised its position in The Goldman Sachs Group by 148.7% in the 2nd quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company's stock valued at $3,569,000 after buying an additional 2,110 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in The Goldman Sachs Group by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 110,233 shares of the investment management company's stock valued at $111,487,000 after buying an additional 3,063 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Wednesday. Morgan Stanley set a $1,145.00 price objective on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. HSBC upped their target price on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a "hold" rating in a research note on Monday, September 28th. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, September 18th. Finally, Barclays raised 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $1,051.23.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
• Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
• Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
• Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
• Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
• Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
• Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $880.48 on Friday. The business's fifty day simple moving average is $974.71 and its 200 day simple moving average is $989.34. The company has a current ratio of 1.10, a quick ratio of 0.63 and a debt-to-equity ratio of 2.82. The Goldman Sachs Group, Inc. has a 12 month low of $740.01 and a 12 month high of $1,153.99. The firm has a market capitalization of $256.37 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share 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 analysts' expectations of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The business's revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $12.25 earnings per share. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 69.57 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group's payout ratio is presently 28.76%.

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.

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.