JPMorgan Chase & Co. Reaffirms Buy Rating for Goldman Sachs Group Inc. (GS)
Several other equities analysts also recently issued reports on GS. Vetr raised Goldman Sachs Group from a sell rating to a hold rating and set a $154.43 target price on the stock in a research report on Monday, August 1st. Oppenheimer Holdings Inc. set a $222.00 target price on Goldman Sachs Group and gave the company a buy rating in a research report on Wednesday, August 3rd. TheStreet raised Goldman Sachs Group from a hold rating to a buy rating in a research report on Friday, August 5th. Zacks Investment Research raised Goldman Sachs Group from a hold rating to a buy rating and set a $186.00 target price on the stock in a research report on Tuesday, September 20th. Finally, Nomura reissued a buy rating and issued a $197.00 target price on shares of Goldman Sachs Group in a research report on Thursday, September 29th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $189.26.
Goldman Sachs Group (NYSE:GS) opened at 219.29 on Monday. The stock has a 50 day moving average price of $188.13 and a 200 day moving average price of $166.75. Goldman Sachs Group has a 12 month low of $138.20 and a 12 month high of $220.77. The stock has a market capitalization of $91.84 billion, a P/E ratio of 17.60 and a beta of 1.55.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 18th. The investment management company reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $1.09. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.41 billion. Goldman Sachs Group had a return on equity of 9.73% and a net margin of 19.58%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.51 earnings per share. Equities analysts predict that Goldman Sachs Group will post $15.53 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, November 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.19%. Goldman Sachs Group’s dividend payout ratio is currently 20.72%.
In other news, EVP Alan M. Cohen sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $181.19, for a total transaction of $905,950.00. Following the completion of the sale, the executive vice president now owns 61,444 shares in the company, valued at approximately $11,133,038.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sarah G. Smith sold 2,664 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $180.00, for a total transaction of $479,520.00. Following the sale, the insider now owns 13,075 shares of the company’s stock, valued at approximately $2,353,500. The disclosure for this sale can be found here. Insiders own 2.61% of the company’s stock.
Several hedge funds have recently made changes to their positions in GS. Vanguard Group Inc. increased its stake in Goldman Sachs Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 22,472,479 shares of the investment management company’s stock valued at $3,338,962,000 after buying an additional 93,526 shares during the period. Dodge & Cox increased its stake in Goldman Sachs Group by 11.4% in the second quarter. Dodge & Cox now owns 15,020,855 shares of the investment management company’s stock valued at $2,231,799,000 after buying an additional 1,531,815 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Goldman Sachs Group by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,644,354 shares of the investment management company’s stock valued at $1,878,700,000 after buying an additional 194,684 shares during the period. Capital World Investors increased its stake in Goldman Sachs Group by 0.3% in the second quarter. Capital World Investors now owns 11,404,284 shares of the investment management company’s stock valued at $1,694,449,000 after buying an additional 38,554 shares during the period. Finally, Harris Associates L P increased its stake in Goldman Sachs Group by 6.3% in the second quarter. Harris Associates L P now owns 5,743,708 shares of the investment management company’s stock valued at $853,400,000 after buying an additional 338,324 shares during the period. Institutional investors and hedge funds own 69.61% of the company’s stock.
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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