Reliant Investment Management LLC Purchases New Holdings in The Goldman Sachs Group, Inc. $GS

Reliant Investment Management LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 9,450 shares of the investment management company’s stock, valued at approximately $8,508,000. The Goldman Sachs Group comprises 2.9% of Reliant Investment Management LLC’s portfolio, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $25,000. Strive Financial Group LLC increased its position in shares of The Goldman Sachs Group by 316.7% in the second 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 position in shares of The Goldman Sachs Group by 188.9% in the second 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. acquired a new position in The Goldman Sachs Group in the first quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. acquired a new position in The Goldman Sachs Group in the fourth quarter valued at about $29,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $877.07 on Thursday. The firm’s fifty day moving average price is $980.74 and its two-hundred day moving average price is $989.49. The stock has a market cap of $255.38 billion, a PE ratio of 12.61, a PEG ratio of 0.98 and a beta of 1.29. The Goldman Sachs Group, Inc. has a fifty-two week low of $740.01 and a fifty-two week high of $1,153.99. 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 (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The company had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same period in the prior year, the business earned $12.25 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 67.48 EPS 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. Investors of record on Wednesday, December 2nd will be given a dividend of $5.00 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The Goldman Sachs Group’s payout ratio is currently 30.87%.

Wall Street Analysts Forecast Growth

GS has been the subject of several recent analyst reports. Wall Street Zen cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. Citigroup reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating for the company in a research report on Friday, September 25th. Loop Capital set a $1,050.00 price target on shares of The Goldman Sachs Group in a report on Thursday, October 8th. Finally, BMO Capital Markets cut their price target on shares of The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating for the company in a report on Tuesday, October 6th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus price target of $1,050.55.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman Sachs reported third-quarter EPS of $17.01 versus the $12.86 consensus estimate, while revenue rose 23% year over year to $18.68 billion, exceeding expectations. Net income increased 29% to $5.29 billion. Reuters earnings report
• Positive Sentiment: Equities revenue surged 72% to $6.44 billion, investment-banking fees climbed 21%, and wealth-management assets reached a record $2.1 trillion. The board also declared a $5-per-share quarterly dividend, and Goldman returned $4.49 billion to shareholders during the quarter. Zacks earnings analysis
• Positive Sentiment: CEO David Solomon described Goldman’s business as “big, durable and diverse,” said the underlying economy remains strong, and reiterated that no leadership succession transition is underway. Jim Cramer also identified GS as his favorite bank stock following the results. CNBC interview with David Solomon
• Neutral Sentiment: Citigroup cut its GS price target to $1,000 from $1,050 and retained a Neutral rating, while RBC lowered its target to $1,010 from $1,220 and assigned a Sector Perform rating. The targets still imply upside, but the reductions signal more cautious valuation expectations. Benzinga analyst target changes
• Negative Sentiment: Hotter-than-expected inflation data pressured financial stocks and raised concerns that interest rates could remain elevated. Solomon warned that abrupt rate moves could create headwinds, while analysts cited late-cycle risks and Goldman’s already-premium valuation. Benzinga analysis of GS weakness
• Negative Sentiment: A Treasury review found that major U.S. banks’ reputation-risk policies could allow political or social considerations to influence access to banking services. Although no company-specific action was announced, the findings could increase regulatory and reputational scrutiny for Goldman Sachs. CNBC Treasury review

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.