Goldman Sachs Group Inc. (GS) Shares Gap Up to $158.05
Shares of Goldman Sachs Group Inc. (NYSE:GS) gapped up prior to trading on Friday . The stock had previously closed at $157.75, but opened at $158.05. Goldman Sachs Group shares last traded at $161.60, with a volume of 1,400,490 shares trading hands.
GS has been the subject of a number of recent analyst reports. Nomura reaffirmed a “buy” rating and issued a $197.00 price objective (up from $195.00) on shares of Goldman Sachs Group in a research report on Tuesday, July 19th. Berenberg Bank initiated coverage on Goldman Sachs Group in a research report on Wednesday, July 13th. They issued a “hold” rating and a $140.00 price objective for the company. Vetr raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 price objective for the company in a research report on Tuesday, July 5th. Credit Suisse Group AG raised Goldman Sachs Group to a “buy” rating in a research report on Tuesday, July 12th. Finally, Oppenheimer Holdings Inc. set a $222.00 price objective on Goldman Sachs Group and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $179.66.
The company has a 50-day moving average of $153.97 and a 200 day moving average of $154.94. The company has a market cap of $69.12 billion and a PE ratio of 15.37.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.72. The company had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the company earned $1.98 EPS. On average, analysts anticipate that Goldman Sachs Group Inc. will post $14.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, August 30th. This represents a $2.60 annualized dividend and a dividend yield of 1.60%.
Several large investors have modified their holdings of the company. Hourglass Capital LLC increased its stake in shares of Goldman Sachs Group by 61.3% in the fourth quarter. Hourglass Capital LLC now owns 62,708 shares of the investment management company’s stock worth $11,302,000 after buying an additional 23,825 shares during the period. Tredje AP fonden increased its stake in shares of Goldman Sachs Group by 1.5% in the fourth quarter. Tredje AP fonden now owns 25,482 shares of the investment management company’s stock worth $4,593,000 after buying an additional 375 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Goldman Sachs Group by 44.8% in the fourth quarter. Ameritas Investment Partners Inc. now owns 21,944 shares of the investment management company’s stock worth $3,954,000 after buying an additional 6,787 shares during the period. Bank of Montreal Can increased its stake in shares of Goldman Sachs Group by 11.2% in the fourth quarter. Bank of Montreal Can now owns 372,233 shares of the investment management company’s stock worth $67,087,000 after buying an additional 37,369 shares during the period. Finally, BBR Partners LLC acquired a new stake in shares of Goldman Sachs Group during the fourth quarter worth about $6,743,000.
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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