The Goldman Sachs Group, Inc. $GS Stock: New England Research & Management Inc. Boosts Position

Key Points

• New England Research & Management increased its Goldman Sachs position by 41.5% in the third quarter, bringing its holdings to 4,125 shares valued at $3.7 million. Institutional investors collectively own 71.21% of GS stock.
• Goldman Sachs reported strong quarterly results, with revenue up 23% year over year to $18.68 billion and EPS of $17.01, beating estimates by $4.15. However, analysts remain cautious, with the stock carrying a consensus “Hold” rating and a $1,051.23 target price.
• GS shares recently traded at $880.48, below their 50-day and 200-day moving averages, while the company maintained a quarterly dividend of $5 per share, equivalent to a 2.3% annual yield.

New England Research & Management Inc. grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 41.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,125 shares of the investment management company's stock after purchasing an additional 1,209 shares during the period. The Goldman Sachs Group makes up 1.4% of New England Research & Management Inc.'s holdings, making the stock its 20th largest position. New England Research & Management Inc.'s holdings in The Goldman Sachs Group were worth $3,714,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GS. Audent Global Asset Management LLC boosted its stake in shares of The Goldman Sachs Group by 10.1% during the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock worth $4,604,000 after acquiring an additional 479 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $53,720,000. Oak Grove Capital LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $1,890,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of The Goldman Sachs Group by 14.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company's stock valued at $17,606,000 after purchasing an additional 2,230 shares in the last quarter. Finally, Sax Wealth Advisors LLC raised its holdings 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 worth $3,569,000 after purchasing an additional 2,110 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GS shares. BMO Capital Markets lowered their price target on The Goldman Sachs Group from $972.00 to $970.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 6th. Barclays raised their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. HSBC boosted their price objective on The Goldman Sachs Group from $995.00 to $1,007.00 and gave the company a "hold" rating in a research report on Monday, September 28th. Royal Bank Of Canada reduced their target price on 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. Finally, Morgan Stanley set a $1,145.00 target price on The Goldman Sachs Group in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given 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 Goldman Sachs Group currently has an average rating of "Hold" and a consensus target price of $1,051.23.

Trending Headlines about The Goldman Sachs Group

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 Price Performance

Shares of GS stock traded down $10.80 on Friday, reaching $880.48. 2,376,586 shares of the company were exchanged, compared to its average volume of 2,349,202. The company has a market cap of $256.37 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.94 and a beta of 1.29. The business has a 50-day moving average price of $974.71 and a 200 day moving average price of $989.34. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10. 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 released its quarterly earnings results 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 firm had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The company's revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.25 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 68.54 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

The Goldman Sachs Group Company Profile

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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