The Goldman Sachs Group (NYSE:GS) Shares Up 1.5% – Should You Buy?

The Goldman Sachs Group, Inc. (NYSE:GS) traded up 1.5% on Thursday. The stock traded as high as $891.83 and last traded at $891.5140. 2,393,049 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 2,220,648 shares. The stock had previously closed at $878.72.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
• Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
• Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
• Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
• Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
• Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
• Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GS. TD Cowen assumed coverage on shares of The Goldman Sachs Group in a report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 target price on the stock. Citigroup reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research report on Wednesday. Rothschild & Co Redburn increased their price target on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a research report on Wednesday, July 15th. Finally, Bank of America boosted their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $1,051.23.

The Goldman Sachs Group Stock Down 1.2%

The stock has a market cap of $256.37 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.94 and a beta of 1.29. The firm has a 50 day simple moving average of $974.71 and a two-hundred day simple moving average of $989.34. 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 released its earnings results on Tuesday, October 13th. The investment management company reported $17.01 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 19.55%. The firm had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. During the same quarter last year, the company earned $12.25 EPS. The Goldman Sachs Group’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 68.54 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 28.76%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Founders Grove Wealth Partners LLC boosted its stake in The Goldman Sachs Group by 35.5% during the 3rd quarter. Founders Grove Wealth Partners LLC now owns 351 shares of the investment management company’s stock valued at $316,000 after purchasing an additional 92 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 44.6% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 1,592 shares of the investment management company’s stock valued at $1,433,000 after purchasing an additional 491 shares during the period. KRS Capital Management LLC raised its stake in shares of The Goldman Sachs Group by 11.1% in the 3rd quarter. KRS Capital Management LLC now owns 1,521 shares of the investment management company’s stock worth $1,369,000 after buying an additional 152 shares in the last quarter. Fulcrum Wealth Advisors LLC raised its stake in shares of The Goldman Sachs Group by 5.2% in the 3rd quarter. Fulcrum Wealth Advisors LLC now owns 284 shares of the investment management company’s stock worth $256,000 after buying an additional 14 shares in the last quarter. Finally, Kintegral Advisory LLC raised its stake in shares of The Goldman Sachs Group by 0.5% in the 3rd quarter. Kintegral Advisory LLC now owns 2,598 shares of the investment management company’s stock worth $2,339,000 after buying an additional 14 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.