The Goldman Sachs Group, Inc. $GS Stock: Legacy Financial Independent Advisors LLC Raises Position

Key Points

• Legacy Financial Independent Advisors increased its Goldman Sachs stake by 735.6% in the third quarter, to 3,075 shares valued at about $2.77 million. Institutional investors collectively own 71.21% of the stock.
• Goldman reported quarterly earnings of $17.01 per share, beating estimates of $12.86, while revenue rose 23% year over year to $18.68 billion. Analysts’ consensus rating is “Hold,” with an average price target of $1,052.04.
• CEO David Solomon and another insider sold shares, while Goldman declared a quarterly dividend of $5 per share. The firm is also marketing a reported $40 billion financing deal tied to SpaceX’s AI and chip plans, which could generate fees if completed.

Legacy Financial Independent Advisors LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 735.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,075 shares of the investment management company's stock after acquiring an additional 2,707 shares during the period. The Goldman Sachs Group comprises 1.4% of Legacy Financial Independent Advisors LLC's portfolio, making the stock its 26th biggest position. Legacy Financial Independent Advisors LLC's holdings in The Goldman Sachs Group were worth $2,769,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GS. BlackRock Inc. bought a new stake in shares of The Goldman Sachs Group during the second quarter worth $24,172,123,000. Bank of America Corp DE bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $6,756,772,000. Orange County Employees Retirement System purchased a new position in The Goldman Sachs Group in the 2nd quarter worth about $69,537,544,000. Bank of New York Mellon Corp purchased a new position in The Goldman Sachs Group in the 2nd quarter worth about $2,560,028,000. Finally, International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at about $2,024,921,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the subject of several research reports. Barclays boosted their price objective 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. TD Cowen assumed coverage on shares of The Goldman Sachs Group in a research report on Thursday, October 8th. They set a "buy" rating and a $1,050.00 target price on the stock. Royal Bank Of Canada decreased their price target on shares of The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $955.00 to $970.00 and gave the company a "neutral" rating in a research note on Friday, October 16th. Finally, UBS Group lowered their price target on The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a "neutral" rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus target price of $1,052.04.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 12,000 shares of the business's stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total value of $10,928,640.00. Following the completion of the transaction, the chief executive officer directly owned 159,180 shares in the company, valued at approximately $144,968,409.60. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ericka T. Leslie sold 250 shares of the business's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the transaction, the insider owned 10,710 shares of the company's stock, valued at $9,534,577.50. This represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,500 shares of company stock valued at $11,380,508. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $868.39 on Friday. The firm has a market cap of $250.48 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.87 and a beta of 1.29. The company's 50 day moving average is $935.89 and its 200 day moving average is $956.96. 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 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 posted its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping analysts' consensus estimates of $12.86 by $4.15. The company 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 20.21% and a net margin of 15.77%. The Goldman Sachs Group's revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $12.25 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs and Apollo Global Management have begun marketing a reported $40 billion financing deal tied to SpaceX’s AI and chip plans. If completed, arranging and syndicating the financing could generate fees for Goldman, though the deal is still being marketed. Article: Goldman Sachs, Apollo Begin Marketing SpaceX Financing Deal
• Neutral Sentiment: The firm promoted 109 bankers to partner, including a record number of engineers. The appointments highlight investment in technical talent, but the news is unlikely to materially affect near-term results. Article: Goldman Sachs Elevates Record Number of Engineers to Partner Ranks
• Negative Sentiment: Goldman’s trading desk reported that buyers were scarce as technology shares sold off and major U.S. indexes fell. The risk-off environment likely weighed on GS along with the broader market. Article: Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff
• Negative Sentiment: Democrats’ control of Congress could slow the Trump administration’s financial deregulation agenda and bring more scrutiny to banks, creating a potentially less favorable policy outlook for Goldman. Article: Midterm Election Results and Financial Stocks

About The Goldman Sachs Group

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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