The Goldman Sachs Group, Inc. $GS Stock Sold by First County Bank CT

First County Bank CT reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 99.6% during the third quarter, Holdings Channel.com reports. The fund owned 453 shares of the investment management company’s stock after selling 114,994 shares during the quarter. First County Bank CT’s holdings in The Goldman Sachs Group were worth $408,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Turim 21 Investimentos Ltda. purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at approximately $25,000. Strive Financial Group LLC increased 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 purchasing an additional 19 shares during the period. BOK Financial Private Wealth Inc. increased its holdings in The Goldman Sachs Group by 188.9% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after purchasing an additional 17 shares during the period. Steph & Co. bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $27,000. Finally, Lifetime Wealth Management P.C. bought a new stake in The Goldman Sachs Group during the 4th quarter valued at $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Large earnings beat: Goldman reported diluted EPS of $17.01 versus the $12.86 consensus estimate, while net revenue rose 23% year over year to $18.68 billion, ahead of expectations of $16.83 billion. Net earnings climbed 29% to $5.29 billion. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Equities trading surged: Equities revenue jumped 72% to $6.44 billion, exceeding Wall Street forecasts and becoming the main catalyst for the quarter’s outperformance. Goldman’s Stock Traders Made $6.4 Billion in 3 Months
• Positive Sentiment: Investment banking improved: Investment-banking fees increased 21% as underwriting activity strengthened, helping offset softer merger-and-acquisition activity. Global Banking & Markets generated $13.46 billion in revenue.
• Positive Sentiment: Capital returns supported sentiment: Goldman declared a $5.00-per-share dividend payable December 30 and returned $4.49 billion to common shareholders during the quarter, including $3.00 billion in share repurchases. Goldman Sachs Q3 Revenue Rises 23%
• Neutral Sentiment: Mixed trading performance: Fixed-income and rates-trading revenue fell well short of analyst estimates, creating a notable contrast with the equities desk’s strength. Goldman Beats on Equity Trading as Fixed Income Falls Short
• Negative Sentiment: Sequential momentum softened: Total revenue declined 8% from the second quarter, and operating expenses rose 20% year over year to $11.31 billion. Investors may also remain cautious because the stock had recently fallen about 15% over three months despite strong underlying results.

The Goldman Sachs Group Stock Up 0.3%

GS traded up $2.56 on Tuesday, hitting $896.51. The company had a trading volume of 2,813,204 shares, compared to its average volume of 2,202,291. The stock has a market capitalization of $261.04 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.98 and a beta of 1.29. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a fifty day moving average price of $987.67 and a 200-day moving average price of $988.75. The Goldman Sachs Group, Inc. has a 12-month low of $740.01 and a 12-month high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. During the same period in the prior year, the firm posted $12.25 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. Analysts predict that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GS. Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a research report on Wednesday, July 15th. Barclays lifted 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. Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 15th. Citigroup dropped their target price on shares of The Goldman Sachs Group from $1,200.00 to $1,050.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. Finally, TD Cowen initiated coverage on shares of The Goldman Sachs Group in a report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 target price on the stock. One research 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, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $1,055.09.

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.