Published on 12 Feb 2024 on Zacks via Yahoo Finance

Here's Why You Should Hold Goldman (GS) in Your Portfolio Now

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The Goldman Sachs Group, Inc. GS is well poised for growth as it is focusing on its core businesses. The company’s steady capital distributions and solid balance sheet position augur well. However, elevated costs are major headwinds.

Goldman is refocusing its business on its core strengths of investment banking (IB) and trading, while reducing its consumer banking footprint. In fourth-quarter 2023, it sold its Personal Financial Management unit to Creative Planning. Further, during the quarter, it sold the majority of GreenSky’s loan portfolio and also entered into an agreement with a consortium led by Sixth Street Partners to divest GreenSky. The deal is expected to close in the first quarter of 2024.

GS aims to cease unsecured loan offerings to consumers through Marcus. In 2023, it sold entire of Marcus’ loan portfolio. Apart from these divestitures, the company is offloading its credit card program with General Motors.

NASDAQ.GEN price evolution
NYSE.GS price evolution

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