Goldman Sachs Group Inc. (GS) Downgraded to “Neutral” at Nomura
A number of other research analysts have also weighed in on GS. Vetr raised shares of Goldman Sachs Group from a sell rating to a hold rating and set a $154.43 price target on the stock in a research note on Monday, August 1st. Oppenheimer Holdings Inc. set a $222.00 price target on shares of Goldman Sachs Group and gave the company a buy rating in a research note on Wednesday, August 3rd. TheStreet raised shares of Goldman Sachs Group from a hold rating to a buy rating in a research note on Friday, August 5th. Zacks Investment Research raised shares of Goldman Sachs Group from a hold rating to a buy rating and set a $186.00 price target on the stock in a research note on Tuesday, September 20th. Finally, JPMorgan Chase & Co. set a $176.00 price target on shares of Goldman Sachs Group and gave the company a buy rating in a research note on Thursday, September 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $185.69.
Goldman Sachs Group (NYSE:GS) opened at 211.75 on Tuesday. Goldman Sachs Group has a one year low of $138.20 and a one year high of $213.41. The stock’s 50 day moving average price is $186.97 and its 200-day moving average price is $166.34. The company has a market capitalization of $88.68 billion, a P/E ratio of 16.99 and a beta of 1.55.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 18th. The investment management company reported $4.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the firm posted $4.51 earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. Equities analysts forecast that Goldman Sachs Group will post $15.53 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.60 annualized dividend and a yield of 1.23%. Goldman Sachs Group’s dividend payout ratio is 20.72%.
In other news, EVP Alan M. Cohen sold 5,322 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $208.82, for a total value of $1,111,340.04. Following the completion of the transaction, the executive vice president now owns 85,528 shares of the company’s stock, valued at $17,859,956.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Lloyd C. Blankfein sold 2,483 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $206.23, for a total transaction of $512,069.09. Following the completion of the transaction, the chairman now directly owns 1,524,471 shares of the company’s stock, valued at approximately $314,391,654.33. The disclosure for this sale can be found here. Corporate insiders own 2.61% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its position in Goldman Sachs Group by 16.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,845 shares of the investment management company’s stock valued at $2,021,000 after buying an additional 1,801 shares in the last quarter. Cacti Asset Management LLC increased its position in Goldman Sachs Group by 1.0% in the second quarter. Cacti Asset Management LLC now owns 177,281 shares of the investment management company’s stock valued at $26,340,000 after buying an additional 1,723 shares in the last quarter. Baxter Bros Inc. purchased a new position in Goldman Sachs Group during the second quarter valued at about $2,327,000. DNB Asset Management AS increased its position in Goldman Sachs Group by 2.5% in the second quarter. DNB Asset Management AS now owns 33,293 shares of the investment management company’s stock valued at $4,947,000 after buying an additional 800 shares in the last quarter. Finally, Lau Associates LLC purchased a new position in Goldman Sachs Group during the second quarter valued at about $1,070,000. 69.61% of the stock is owned by hedge funds and other institutional investors.
About Goldman Sachs Group
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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