The Goldman Sachs Group, Inc. $GS Shares Newly Purchased by Reliant Investment Management LLC

Reliant Investment Management LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 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 investment portfolio, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of GS. Sky Investment Group LLC raised its stake in The Goldman Sachs Group by 0.9% in the second quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after buying an additional 10 shares during the period. Warren Street Wealth Advisors LLC lifted its position in shares of The Goldman Sachs Group by 3.9% in the second quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock valued at $272,000 after buying an additional 10 shares during the last quarter. First Financial Group Corp lifted its position in shares of The Goldman Sachs Group by 4.7% in the first quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after buying an additional 11 shares during the last quarter. Meadow Creek Wealth Advisors LLC lifted its position in shares of The Goldman Sachs Group by 1.7% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company’s stock valued at $569,000 after buying an additional 11 shares during the last quarter. Finally, DecisionMap Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 3.2% during the 2nd quarter. DecisionMap Wealth Management LLC now owns 350 shares of the investment management company’s stock worth $354,000 after acquiring an additional 11 shares during the period. Institutional investors own 71.21% of the company’s stock.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GS. UBS Group decreased their target price on The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Keefe, Bruyette & Woods dropped their price target on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a research note on Wednesday. Royal Bank Of Canada cut their price target on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price objective 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. Finally, Bank of America lifted their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $1,050.55.

The Goldman Sachs Group Stock Down 1.7%

GS stock opened at $877.07 on Thursday. 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 current ratio of 1.10 and a quick ratio of 0.63. The stock has a market capitalization of $255.38 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.98 and a beta of 1.29. The business’s fifty day moving average price is $980.74 and its two-hundred day moving average price is $989.49.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.86 by $4.15. The company had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $16.83 billion. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The Goldman Sachs Group’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $12.25 earnings per share. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared 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 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 30.87%.

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.