The Goldman Sachs Group, Inc. $GS Stock: IFP Advisors Inc Reduces Position

Key Points

• IFP Advisors cut its Goldman Sachs position by 14.5% in the third quarter, selling 1,329 shares and retaining 7,843 shares valued at approximately $7.1 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, exceeding analyst expectations and representing 23% year-over-year revenue growth.
• The company declared a quarterly dividend of $5.00 per share, or $20 annually, equating to a 2.3% yield. Despite the earnings beat, analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $1,051.23 average price target.

IFP Advisors Inc lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,843 shares of the investment management company's stock after selling 1,329 shares during the quarter. IFP Advisors Inc's holdings in The Goldman Sachs Group were worth $7,062,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $24,172,123,000. Bank of America Corp DE acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $6,756,772,000. Orange County Employees Retirement System purchased a new stake in The Goldman Sachs Group in the 2nd quarter valued at $69,537,544,000. Bank of New York Mellon Corp purchased a new stake in The Goldman Sachs Group in the 2nd quarter valued at $2,560,028,000. Finally, International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $2,024,921,000. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $880.48 on Monday. The stock has a market capitalization of $256.37 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.85 and a beta of 1.29. The business's 50 day moving average is $974.71 and its two-hundred day moving average is $990.62. The Goldman Sachs Group, Inc. has a 12-month low of $740.01 and a 12-month high of $1,153.99. 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 (NYSE:GS - Get Free Report) last issued its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.86 by $4.15. The business had revenue of $18.68 billion during 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 for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $12.25 EPS. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group's dividend payout ratio is currently 28.76%.

Key The Goldman Sachs Group News

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

Analyst Ratings Changes

Several brokerages have issued reports on GS. 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. BMO Capital Markets decreased their price objective on The Goldman Sachs Group from $972.00 to $970.00 and set a "market perform" rating for the company in a research report on Tuesday, October 6th. Royal Bank Of Canada lowered their target price on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a "sector perform" rating on the stock in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods lowered their price objective on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a "market perform" rating on the stock in a research report on Wednesday. Finally, Rothschild & Co Redburn boosted their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $1,051.23.

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.