The Goldman Sachs Group, Inc. $GS Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,021 shares of the investment management company’s stock after selling 18,676 shares during the period. Fifth Third Bancorp’s holdings in The Goldman Sachs Group were worth $248,518,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth $24,172,123,000. Bank of America Corp DE bought a new stake in The Goldman Sachs Group during the second quarter valued at about $6,756,772,000. Orange County Employees Retirement System purchased a new position in shares of The Goldman Sachs Group in the second quarter valued at about $69,537,544,000. Bank of New York Mellon Corp purchased a new position in shares of The Goldman Sachs Group in the second quarter valued at about $2,560,028,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of The Goldman Sachs Group by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,840,675 shares of the investment management company’s stock valued at $1,556,706,000 after acquiring an additional 9,770 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total value of $10,928,640.00. Following the completion of the sale, the chief executive officer directly owned 159,180 shares in the company, valued at $144,968,409.60. This trade represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ericka T. Leslie sold 250 shares of The Goldman Sachs Group stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total transaction of $222,562.50. Following the transaction, the insider directly owned 10,710 shares of the company’s stock, valued at $9,534,577.50. The trade was a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 12,500 shares of company stock worth $11,380,508. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GS. Citigroup reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 14th. Barclays lifted their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. Wall Street Zen downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average price target of $1,052.04.

The Goldman Sachs Group Trading Up 1.9%

Shares of NYSE GS opened at $927.11 on Thursday. The business’s 50 day moving average is $926.09 and its two-hundred day moving average is $956.18. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.61. The Goldman Sachs Group, Inc. has a 1-year low of $754.00 and a 1-year high of $1,153.99. The stock has a market capitalization of $267.41 billion, a P/E ratio of 13.33, a PEG ratio of 0.85 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 20.21% and a net margin of 15.77%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the company earned $12.25 EPS. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

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

Key Headlines Impacting The Goldman Sachs Group

Investors following GS have been watching these headlines:

• Positive Sentiment: CEO David Solomon cited strong demand for AI infrastructure financing, and Goldman is involved in the planned Anthropic IPO. Financing and underwriting activity could create opportunities for the firm. Article: Goldman Sachs Sees Strong Demand for AI Infrastructure Financing
• Neutral Sentiment: Goldman analysts reportedly project Anthropic could generate $685 billion in revenue by 2030. That forecast underscores the scale of the potential IPO opportunity, but depends on highly ambitious growth assumptions. Article: Goldman Sees Anthropic Revenue Hitting $685 Billion by 2030
• Negative Sentiment: After hotter inflation data, Goldman revised its rate outlook to include further Fed tightening. Higher rates and uncertainty could weigh on market sentiment and deal activity, although rate volatility may also create trading opportunities. Article: Why Goldman Sachs Is Changing Its Federal Reserve Interest-Rate Forecast

The Goldman Sachs Group Profile

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.