Kestra Advisory Services LLC Acquires 4,107 Shares of The Goldman Sachs Group, Inc. $GS

Kestra Advisory Services LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 87,803 shares of the investment management company’s stock after acquiring an additional 4,107 shares during the period. Kestra Advisory Services LLC’s holdings in The Goldman Sachs Group were worth $79,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Turim 21 Investimentos Ltda. bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $25,000. Strive Financial Group LLC raised its position in shares of The Goldman Sachs Group by 316.7% during 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. raised its position in shares of The Goldman Sachs Group by 188.9% during 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. Cherry Tree Wealth Management LLC raised 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 worth $27,000 after purchasing an additional 15 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at $33,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs and Apollo Global Management have begun marketing a reported $40 billion financing deal tied to SpaceX’s AI and chip plans. If completed, arranging and syndicating the financing could generate fees for Goldman, though the deal is still being marketed. Article: Goldman Sachs, Apollo Begin Marketing SpaceX Financing Deal
• Neutral Sentiment: The firm promoted 109 bankers to partner, including a record number of engineers. The appointments highlight investment in technical talent, but the news is unlikely to materially affect near-term results. Article: Goldman Sachs Elevates Record Number of Engineers to Partner Ranks
• Negative Sentiment: Goldman’s trading desk reported that buyers were scarce as technology shares sold off and major U.S. indexes fell. The risk-off environment likely weighed on GS along with the broader market. Article: Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff
• Negative Sentiment: Democrats’ control of Congress could slow the Trump administration’s financial deregulation agenda and bring more scrutiny to banks, creating a potentially less favorable policy outlook for Goldman. Article: Midterm Election Results and Financial Stocks

The Goldman Sachs Group Trading Down 6.4%

NYSE GS opened at $868.39 on Friday. The firm’s 50 day moving average price is $935.89 and its two-hundred day moving average price is $956.96. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.63 and a current ratio of 0.61. The Goldman Sachs Group, Inc. has a twelve month low of $754.00 and a twelve month high of $1,153.99. The stock has a market cap of $250.48 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.87 and a beta of 1.29.

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 analysts’ consensus estimates of $12.86 by $4.15. The company 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 quarter in the prior year, the company earned $12.25 earnings per share. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued 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 dividend yield of 2.3%. The Goldman Sachs Group’s payout ratio is currently 28.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Citigroup reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 14th. Weiss Ratings downgraded The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. HSBC upped their price objective on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the company a “hold” rating in a research note on Monday, September 28th. Finally, Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1,052.04.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Ericka T. Leslie sold 250 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total transaction of $222,562.50. Following the completion of the sale, the insider directly owned 10,710 shares in the company, valued at approximately $9,534,577.50. This trade represents a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David M. Solomon sold 12,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 159,180 shares of the company’s stock, valued at $144,968,409.60. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,500 shares of company stock worth $11,380,508 over the last three months. 0.55% of the stock is owned by insiders.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.