Verus Wealth Management LLC Acquires New Holdings in The Goldman Sachs Group, Inc. $GS

Verus Wealth Management LLC bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,025 shares of the investment management company’s stock, valued at approximately $923,000.

Other hedge funds also recently modified their holdings of the company. Strive Financial Group LLC lifted its stake in shares of The Goldman Sachs Group by 316.7% in the 2nd quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. BOK Financial Private Wealth Inc. increased its position in The Goldman Sachs Group by 188.9% during the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after buying an additional 17 shares during the last quarter. Turim 21 Investimentos Ltda. acquired a new position in The Goldman Sachs Group during the first quarter worth $25,000. Steph & Co. bought a new position in The Goldman Sachs Group during the first quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in The Goldman Sachs Group during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Major earnings beat: Third-quarter revenue rose 23% year over year to $18.68 billion, while net income increased 29% to $5.29 billion. Diluted EPS of $17.01 exceeded the $12.86 consensus estimate by $4.15. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Equities and investment banking led results: Equities trading revenue surged 72% to $6.44 billion, supported by stronger financing and derivatives activity. Investment-banking fees rose 21% as underwriting and dealmaking recovered. Goldman Q3 Earnings Beat on Strong Equities and IB Revenues
• Positive Sentiment: Wealth management reached a new record: Goldman supervised $2.1 trillion in wealth-management assets and conducted its largest-ever private-wealth-advisor training class, supporting the firm’s longer-term asset-gathering strategy. Goldman Sachs Supervised $2.1 Trillion in Wealth Management Assets
• Neutral Sentiment: CEO David Solomon said there is no succession transition or timetable underway, removing an immediate leadership overhang. He also described Goldman as well positioned despite geopolitical and economic uncertainty. Goldman Sachs profits jump as CEO says no plans to exit
• Negative Sentiment: Mixed business quality and valuation concerns: Fixed-income and rates trading fell short of expectations, total revenue declined sequentially from the prior quarter, and analysts argue the stock already reflects a premium valuation. Persistent inflation, elevated interest rates, geopolitical risks and uncertainty around AI-related financing could also pressure activity and multiples. Goldman Sachs Q3: The Business Deserves a Premium. The Stock Already Has One

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS traded down $1.52 during trading on Tuesday, hitting $892.43. 4,936,975 shares of the stock were exchanged, compared to its average volume of 2,213,654. The company has a market capitalization of $259.85 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth 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 Goldman Sachs Group, Inc. has a 1-year low of $740.01 and a 1-year high of $1,153.99. The company’s fifty day simple moving average is $984.44 and its 200-day simple moving average is $989.10.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating analysts’ consensus estimates of $12.86 by $4.15. The business 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 19.16% and a net margin of 15.53%. The Goldman Sachs Group’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company posted $12.25 earnings per share. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

Analysts Set New Price Targets

GS has been the subject of a number of analyst reports. Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a research report on Wednesday, July 15th. Bank of America increased their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 16th. UBS Group cut their price objective on The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Citigroup reduced their target price on The Goldman Sachs Group from $1,200.00 to $1,050.00 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. Finally, Morgan Stanley set a $1,145.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $1,055.09.

About The Goldman Sachs Group

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.