The Goldman Sachs Group, Inc. $GS Stock: Brighton Jones LLC Grows Holdings

Brighton Jones LLC increased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 26.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,949 shares of the investment management company’s stock after buying an additional 1,658 shares during the quarter. Brighton Jones LLC’s holdings in The Goldman Sachs Group were worth $7,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new position in The Goldman Sachs Group in the second quarter valued at about $53,720,000. IPG Investment Advisors LLC grew its stake in The Goldman Sachs Group by 21.3% during the 2nd quarter. IPG Investment Advisors LLC now owns 7,250 shares of the investment management company’s stock valued at $7,332,000 after purchasing an additional 1,272 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in The Goldman Sachs Group by 14.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company’s stock worth $17,606,000 after purchasing an additional 2,230 shares during the last quarter. Sax Wealth Advisors LLC increased its holdings in The Goldman Sachs Group by 148.7% during the 2nd quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company’s stock worth $3,569,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in The Goldman Sachs Group by 5.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 97,699 shares of the investment management company’s stock worth $98,810,000 after purchasing an additional 4,811 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
• Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
• Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
• Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff

The Goldman Sachs Group Stock Down 0.4%

Shares of The Goldman Sachs Group stock opened at $865.88 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.61 and a debt-to-equity ratio of 3.20. The firm has a market cap of $249.75 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.81 and a beta of 1.29. 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 business has a 50-day moving average price of $932.40 and a 200 day moving average price of $956.58.

The Goldman Sachs Group (NYSE:GS) last announced 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 Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The firm had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. During the same quarter in the prior year, the firm posted $12.25 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 71.49 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company 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 $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s payout ratio is 28.76%.

Insider Buying and Selling

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 transaction of $10,928,640.00. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Ericka T. Leslie sold 100 shares of The Goldman Sachs Group stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total transaction of $92,628.00. Following the completion of the transaction, the insider directly owned 10,460 shares of the company’s stock, valued at approximately $9,688,888.80. This represents a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,500 shares of company stock valued at $11,380,508 over the last quarter. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GS shares. Royal Bank Of Canada reduced their target price on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 14th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $955.00 to $970.00 and gave the stock a “neutral” rating in a research note on Friday, October 16th. Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Finally, UBS Group reduced their price objective on shares of The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating on the stock in a research note on Monday, November 2nd. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1,052.04.

The Goldman Sachs Group Company 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.

Goldman Sachs also provides consumer financial products and digital financial services.