Should You Add The Goldman Sachs Group (GS) to Your Portfolio?
ClearBridge Investments, an investment management company, released its “ClearBridge Value Equity Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 1000 Value Index, in the third quarter. Sector allocation effects and overall stock selection contributed positively to the strategy’s relative performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Investments highlighted stocks like The Goldman Sachs Group, Inc. (NYSE:GS) in the Q3 2022 investor letter. Headquartered in New York, New York, The Goldman Sachs Group, Inc. (NYSE:GS) is a financial company that operates through Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management segments. On November 7, 2022, The Goldman Sachs Group, Inc. (NYSE:GS) stock closed at $362.56 per share. One-month return of The Goldman Sachs Group, Inc. (NYSE:GS) was 23.23% and its shares lost 10.56% of their value over the last 52 weeks. The Goldman Sachs Group, Inc. (NYSE:GS) has a market capitalization of $123.762 billion.
ClearBridge Investments made the following comment about The Goldman Sachs Group, Inc. (NYSE:GS) in its Q3 2022 investor letter:
"We also initiated a new position in The Goldman Sachs Group, Inc. (NYSE:GS), which is trading far below what we would expect of a well-capitalized financials stock capable of generating an attractive return on equity over a market cycle. The company’s prospects are further enhanced by strong market share gains and further buildout of its fintech consumer finance initiatives.
Additionally, its earnings appear to have stabilized from the peak deal activity and inflated asset valuations of the last market cycle. While we acknowledge that a full-blown recession would put pressure on these earnings, Goldman Sachs has a history of capitalizing on downcycles to solidify its leading investment and trading businesses."
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The Goldman Sachs Group, Inc. (NYSE:GS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held The Goldman Sachs Group, Inc. (NYSE:GS) at the end of the second quarter which was 71 in the previous quarter.
We discussed The Goldman Sachs Group, Inc. (NYSE:GS) in another article and shared the biggest finance companies by market cap. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
