Fisher Asset Management LLC Buys 117,856 Shares of The Goldman Sachs Group, Inc. $GS

Fisher Asset Management LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,081,969 shares of the investment management company’s stock after acquiring an additional 117,856 shares during the period. The Goldman Sachs Group makes up approximately 1.9% of Fisher Asset Management LLC’s holdings, making the stock its 12th largest holding. Fisher Asset Management LLC’s holdings in The Goldman Sachs Group were worth $6,376,323,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GS. Turim 21 Investimentos Ltda. bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $25,000. 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 period. BOK Financial Private Wealth Inc. lifted its stake in shares of The Goldman Sachs Group by 188.9% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 17 shares during the period. Cherry Tree Wealth Management LLC boosted its position in shares of The Goldman Sachs Group by 100.0% during the third quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 15 shares in the last quarter. Finally, Clearstead Trust LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

More The Goldman Sachs Group News

Investors following GS have been watching these news items:

• 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
• Neutral Sentiment: Goldman now expects additional Federal Reserve tightening, including a March rate hike, following hot inflation data. Higher rates can support some lending income, but may also pressure economic activity, markets and borrowers. Article: Why Goldman Sachs is now changing its Federal Reserve interest-rate forecast

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $914.16 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $754.00 and a fifty-two week high of $1,153.99. The company has a 50 day simple moving average of $924.28 and a two-hundred day simple moving average of $956.09. The company has a market capitalization of $263.67 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.87 and a beta of 1.29. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.61 and a current ratio of 0.61.

The Goldman Sachs Group (NYSE:GS) last released its earnings results 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 Goldman Sachs Group had a net margin of 15.77% and a return on equity of 20.21%. The firm had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. During the same period last year, the business earned $12.25 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. Analysts expect that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business 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. 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 dividend payout ratio (DPR) is 28.76%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GS shares. HSBC upped their price target on The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a “hold” rating in a research note on Monday, September 28th. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $955.00 to $970.00 and gave the company a “neutral” rating in a research report on Friday, October 16th. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Weiss Ratings cut shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Finally, Wall Street Zen downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $1,052.04.

Insider Buying and Selling

In related news, CEO David Solomon sold 12,000 shares of the firm’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 completion of the transaction, the chief executive officer owned 159,180 shares of the company’s stock, valued at $144,968,409.60. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ericka Leslie sold 250 shares of The Goldman Sachs Group stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total value of $222,562.50. Following the transaction, the insider owned 10,710 shares of the company’s stock, valued at $9,534,577.50. The trade was a 2.28% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 12,500 shares of company stock valued at $11,380,508. 0.55% of the stock is owned by corporate insiders.

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.