Investors Sell Shares of Goldman Sachs Group Inc. (GS) on Strength (GS)
Investors sold shares of Goldman Sachs Group Inc. (NYSE:GS) on strength during trading hours on Friday. $89.24 million flowed into the stock on the tick-up and $107.79 million flowed out of the stock on the tick-down, for a money net flow of $18.55 million out of the stock. Of all stocks tracked, Goldman Sachs Group had the 0th highest net out-flow for the day. Goldman Sachs Group traded up $0.07 for the day and closed at $165.97
A number of brokerages recently commented on GS. Deutsche Bank AG reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Saturday, June 4th. Vetr upgraded shares of Goldman Sachs Group from a “buy” rating to a “strong-buy” rating and set a $178.94 target price for the company in a research note on Thursday, May 5th. Wells Fargo & Co. reiterated a “hold” rating on shares of Goldman Sachs Group in a research note on Saturday, July 9th. Berenberg Bank began coverage on shares of Goldman Sachs Group in a research note on Wednesday, July 13th. They issued a “hold” rating and a $140.00 target price for the company. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $214.00 target price (down from $243.00) on shares of Goldman Sachs Group in a research note on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $180.26.
The stock has a 50-day moving average of $161.60 and a 200 day moving average of $156.01. The company has a market cap of $70.77 billion and a price-to-earnings ratio of 15.73.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.72. During the same period in the prior year, the business earned $1.98 EPS. The business had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.58 billion. Analysts forecast that Goldman Sachs Group Inc. will post $14.30 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, August 30th.
A number of large investors have made changes to their positions in the stock. Eaton Vance Management increased its stake in shares of Goldman Sachs Group by 31.4% in the fourth quarter. Eaton Vance Management now owns 1,441,166 shares of the investment management company’s stock valued at $259,741,000 after buying an additional 344,014 shares in the last quarter. I.G. Investment Management LTD. increased its stake in shares of Goldman Sachs Group by 105.0% in the fourth quarter. I.G. Investment Management LTD. now owns 26,175 shares of the investment management company’s stock valued at $4,718,000 after buying an additional 13,405 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Goldman Sachs Group by 417.6% in the fourth quarter. Marshall Wace LLP now owns 8,095 shares of the investment management company’s stock valued at $1,459,000 after buying an additional 6,531 shares in the last quarter.
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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