The Goldman Sachs Group, Inc. $GS Stock Position Cut by First Command Advisory Services Inc.

First Command Advisory Services Inc. lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 78.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 346 shares of the investment management company’s stock after selling 1,244 shares during the period. First Command Advisory Services Inc.’s holdings in The Goldman Sachs Group were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GS. Wealthfront Advisers LLC acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth $53,720,000. IPG Investment Advisors LLC lifted its holdings in The Goldman Sachs Group by 21.3% in the second quarter. IPG Investment Advisors LLC now owns 7,250 shares of the investment management company’s stock valued at $7,332,000 after buying an additional 1,272 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in The Goldman Sachs Group by 76.4% in the third quarter. First Citizens Bank & Trust Co. now owns 5,976 shares of the investment management company’s stock valued at $5,381,000 after buying an additional 2,588 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in The Goldman Sachs Group by 14.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company’s stock valued at $17,606,000 after buying an additional 2,230 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in The Goldman Sachs Group by 5.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 97,699 shares of the investment management company’s stock valued at $98,810,000 after acquiring an additional 4,811 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Solomon sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total transaction of $10,928,640.00. Following the transaction, the chief executive officer directly owned 159,180 shares of the company’s stock, valued at approximately $144,968,409.60. This represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ericka Leslie sold 250 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total value of $222,562.50. Following the completion of the transaction, the insider owned 10,710 shares in the company, valued at approximately $9,534,577.50. The trade was a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 12,500 shares of company stock worth $11,380,508. 0.55% of the stock is owned by company insiders.

Key The Goldman Sachs Group News

Investors following GS have been watching these news items:

• Positive Sentiment: Goldman raised its dividend by 11% and continues share repurchases, signaling confidence in its capital position and supporting shareholder returns. Article: GS’ Capital Distribution Strategy
• Positive Sentiment: Goldman, HSBC and other banks are backing a $270 million stablecoin initiative, Project Faro, as banks seek to retain deposits amid competition from fintech and digital assets. The venture could create strategic opportunities, though its financial contribution to Goldman is not specified. Article: Goldman Sachs, Citi and Other Banks Commit $270M to Joint Stablecoin Venture
• Positive Sentiment: Goldman is participating in a reported $150 million Saudi financing deal, adding to its lending and financing activity. Article: Goldman, HSBC, Fortress Make Rare $150 Million Saudi Credit Bet

The Goldman Sachs Group Trading Down 1.4%

GS opened at $914.16 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $754.00 and a 1-year high of $1,153.99. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 3.20. The company has a market cap of $263.67 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. The company has a fifty day moving average price of $924.28 and a two-hundred day moving average price of $956.09.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating the consensus estimate of $12.86 by $4.15. The firm had revenue of $18.68 billion for the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 20.21%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $12.25 earnings per share. Analysts predict that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be given a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 28.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GS. Loop Capital set a $1,050.00 price target on The Goldman Sachs Group in a report on Thursday, October 8th. JPMorgan Chase & Co. boosted their price objective on 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. Wall Street Zen lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Bank of America upped their target price on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, BMO Capital Markets decreased their target price on The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating for the company in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $1,052.04.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc. is a global financial services firm founded in 1869 and headquartered in New York City. It serves corporations, financial institutions, governments and individuals across major financial markets worldwide. The company’s businesses include investment banking, global markets, and asset and wealth management. Its services include advising on mergers and acquisitions and other strategic transactions, helping clients raise capital, facilitating trading and risk management, and managing investments and wealth for institutions and individuals.