Goldman Sachs Group Inc shares, GS stock listings

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ISIN code: US38141G1040
Sector: Finance
Industry: Brokers/investment banks

Le actions of Goldman Sachs Group are listed on the NYSE index under the ticker GS.

GWatch the stock's listing history on the NYSE

Company Description

The Goldman Sachs Group, Inc. (abbreviated as GS) is an American investment bank operating worldwide in investment banking, securities trading and investment management. It is based in New York, at 200 West Street, in Lower Manhattan. It is present on the main financial markets with offices in London, Frankfurt, Hong Kong and Tokyo. It has approximately 43.000 employees.
It is one of the largest investment banks in the world. It ranks 2nd in the list of investment banks in the world by turnover and 59th in the list Fortune 500 of the largest US corporations by total revenue. It is considered a systemically important financial institution since Financial Stability Board.

Le Goldman Sachs' main areas of business are: investment banking, capital markets, investing and lending, asset management and research.

• Investment banking: consultancy in mergers and acquisitions, issuance of financing instruments and risk management; they address a large number of customers such as governments and public bodies, financial institutions and companies operating in different sectors such as consumer goods, energy, industry, real estate, telecommunications, etc.
• Capital markets: provide securities brokerage services to a global institutional client base for the purchase and sale of financial instruments on the capital markets.
• Investing and lending: is divided into four departments: Goldman Sachs Bank USA, direct banking, Merchant Banking Division (direct investments in companies), Urban Investment Group, and Special Situations Group (financing and investments focused on the middle market segment).
• Asset management: division that provides investment planning and management services for institutional clients.
• Research: division that provides its customers with analyzes concerning various markets including the equity, interest rate, currency and commodity markets, in particular by basing its evaluations on macroeconomic studies.

The bank is authorized to issue US debt securities.

The largest revenues come from the investment and lending services sector (47,5% of the total), followed by investment banking (21,1%) and asset management (17,9%). Geographically, the greatest profits come from the Americas (61,7%), followed by Asia (13,9%) and the rest of the world (24,4%).

In 2020, revenue was $44,6 billion with net income of $9,5 billion. In 2021, revenue jumped 33% to 59,339 billion dollars, while lnet income more than doubled, growing 129% to $21,635 billion, $59,45 per share.

Goldman Sachs is publicly traded on the New York Stock Exchange. Institutional investors hold the majority of Goldman Sachs shares with approximately 74% of the total share capital. This percentage is among the highest in the investment banking/broker industry.

The shareholders is composed as follows:

• Goldman Sachs & Co. LLC (Private Banking), 21%
• The Vanguard Group, 7,81%
• BlackRock Inc, 7,11%
• SSGA Funds Management, Inc., 6,24%
• T. Rowe Price Associates, Inc. (Investment Management), 3,68%
• Massachusetts Financial Services Co., 2,61%
• Goldman Sachs Group Shareholders Agreement, 2,57%
• Dodge & Cox, 2,17%
• Geode Capital Management LLC, 1,73%
• FMR LLC, 1,34%
• Bank Of New York Mellon Corporation, 1,27%
• Alliance Bernstein LP, 1,10%

Il Floats it is about 36,7%.

Goldman Sachs has been present in Italy for more than twenty-five years. In the 2005s, it was one of the main financial institutions that took part in the country's first privatization programme. Among the main operations on the Italian market are: the acquisition by the Merchant Banking division of Pirelli Cavi in ​​XNUMX and the subsequent listing of the company, then renamed Prysmian; the listing in 2011 of Prada on the Hong Kong stock exchange, first listing on the Asian stock exchange for an Italian company and the largest IPO (listing) ever in the luxury sector. Goldman Sachs has also supported Italian operations abroad such as the merger between Unicredit and HVB, the acquisition of Endesa by Enel and the acquisition of DRS by Finmeccanica.

Economic and financial analysis of the company

The Goldman Sachs Group was founded in 1869 by Marcus Goldman, a German of Jewish descent who immigrated to the United States; in 1896 his son-in-law joined him Samuel Sachs assuming the current name of the company; in the same year GS is listed on the New York Stock Exchange.

In the early twentieth century it became a point of reference for companies wishing to be listed on the stock exchange; it also becomes the first bank to recruit young graduates.

In 1906 it entered the initial public offering (IPO) market with the stock exchange listing of Sears, Roebuck and Company.

The crisis of 1929 brings the bank almost to collapse due to the large exposure on the stock market. This led to GS suffering from a bad reputation in the following years.

In 1930 the bank restructured itself; reduces its exposure to equity markets and focuses more on corporate services.

In 1933 he created a division of study and research on investment funds and the following year a department on the issue of municipal bonds.

In 1956 it opened the Investment Banking division, becoming the first bank to sell financial products to the public. It manages the listing on the Stock Exchange of Ford.

In the eighties GS became a consultant for governments intent on starting privatization processes of state-owned companies.
In 1981 it acquired the J. Aron & Company a commodity trading company.

In 1986 Goldman Sachs was listed on the London and Tokyo stock exchanges. It forms Goldman Sachs Asset Management, which manages most of its mutual funds and hedge funds. Subscribes to the IPO of ecosystem.

In 1994 he launched the Goldman Sachs Commodity Index (GSCI) and opens the first China office in Beijing.

Its international expansion continued between the XNUMXs and XNUMXs; enters the Asian market and manages the listings of numerous companies including Yahoo and NTT Docomo.

In September 2000 he buys Spear, Leeds and Kellogg, one of the largest specialized firms on the New York Stock Exchange, for $6,5 billion including $4,4 billion of Goldman Sachs common stock (34 million shares)

In March 2003, it acquired a 45% stake in a joint venture with JB were, an Australian investment bank. Buy in April The Ayco Company LP, a paid financial advisory service.

In January 2007, together with CanWest Global Communications, it acquires Alliance Atlantis, Canadian animation studio.

During the 2007-2008 financial crisis Goldman Sachs profited from the collapse in subprime mortgage obligations in the summer of 2007 by shorting subprime mortgage-backed securities.
During this period, at the height of the crisis, Goldman Sachs received $10 billion in funding from the US Treasury Department as part of the Troubled Asset Relief Program (TARP), a financial rescue plan created by the Emergency Economic Stabilization Act of 2008. As of June 2009, the investment was repaid at 23% interest (in the form of $318 million in preferred dividend payments and $1,418 billion in redemptions).

The 22 September 2008 Morgan Stanley and Goldman Sachs, the last two largest investment banks in the United States, announce that they would become traditional bank holding companies regulated by the Federal Reserve.

On 23 September 2008, Berkshire Hathaway buys $5 billion of Goldman Sachs preferred stock.

In March 2011, GS received Federal Reserve approval to repurchase Berkshire's preferred stock.
During the year, he takes full control of JBWere in a $1 billion deal.

In April 2013, together with Deutsche Bank, manages a $17 billion bond offering from Apple Inc., the largest corporate bond deal in history. In June, buy a loan portfolio from Suncorp Group, one of Australia's largest banks and insurance companies for A$960 million.
In September 2013, Goldman Sachs Asset Management announces that it has reached an agreement with Deutsche Asset & Wealth Management to acquire its stable value business for total assets under supervision of $21,6 billion.

In 2015 it acquired the online deposit platform GE Capital Bank of General Electric, which includes $8 billion of online deposits and another $8 billion of brokered certificates of deposit.

In 2016, he bought the financial technology startup Honest Dollar, a digital retirement savings tool, focused on helping small business employees and the self-employed get affordable retirement plans.
In April, it launches its direct banking GS Bank.

In 2018 buy Clarity money, a personal finance startup and the Boyd Corp from Genstar Capital for $3 billion.

In 2019 he acquired United Capital Financial Advisers, LLC for 750 million dollars.

Goldman Sachs has been involved in a major scandal relating to Malaysia's sovereign wealth fund, 1MDB. The bank paid a $2,9 billion fine under the Foreign Corrupt Practices Act, one of the largest fines of all time.

In August 2021 he bought from NN Group the NN Investment Partners, which had $335 billion in assets under management, for €1,7 billion.

Goldman Sachs has often been criticized for lacking ethical standards: collaboration with dictatorial regimes, close ties with the US federal government, and raising commodity prices through futures speculation.