Traders Buy Goldman Sachs Group Inc. (GS) on Weakness
Traders purchased shares of Goldman Sachs Group Inc. (NYSE:GS) on weakness during trading on Thursday. $133.70 million flowed into the stock on the tick-up and $90.71 million flowed out of the stock on the tick-down, for a money net flow of $42.99 million into the stock. Of all stocks tracked, Goldman Sachs Group had the 33rd highest net in-flow for the day. Goldman Sachs Group traded down ($0.95) for the day and closed at $168.51
Several equities research analysts recently commented on GS shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $160.00 price target (down previously from $185.00) on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Citigroup Inc. reaffirmed a “buy” rating on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Vetr cut Goldman Sachs Group from a “strong-buy” rating to a “hold” rating and set a $158.55 price target for the company. in a report on Thursday, June 9th. Royal Bank Of Canada increased their price target on Goldman Sachs Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Wednesday, July 20th. Finally, Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company. Goldman Sachs Group has an average rating of “Hold” and a consensus price target of $178.60.
The company has a 50 day moving average price of $163.19 and a 200-day moving average price of $156.67. The stock has a market cap of $72.14 billion and a price-to-earnings ratio of 16.04.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.72. During the same quarter in the previous year, the company earned $1.98 earnings per share. The firm had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.58 billion. On average, equities analysts forecast that Goldman Sachs Group Inc. will post $14.25 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.54%.
In other news, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the sale, the insider now directly owns 13,075 shares in the company, valued at approximately $2,222,750. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edith W. Cooper sold 14,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $166.11, for a total value of $2,325,540.00. Following the sale, the executive vice president now owns 33,634 shares of the company’s stock, valued at $5,586,943.74. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Goldman Sachs Group stock. Baird Financial Group Inc. increased its stake in shares of Goldman Sachs Group Inc. (NYSE:GS) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,713 shares of the investment management company’s stock after buying an additional 140 shares during the period. Baird Financial Group Inc.’s holdings in Goldman Sachs Group were worth $2,652,000 as of its most recent filing with the SEC.
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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