Traders Sell Shares of Goldman Sachs Group Inc. (GS) on Strength (GS)
Traders sold shares of Goldman Sachs Group Inc. (NYSE:GS) on strength during trading 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 companies 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
Several equities research analysts recently commented on GS shares. Bank of America Corp. reiterated a “buy” rating and issued a $160.00 price objective (down from $185.00) on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Vetr downgraded Goldman Sachs Group from a “strong-buy” rating to a “hold” rating and set a $158.55 price objective for the company. in a report on Thursday, June 9th. Citigroup Inc. reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Royal Bank Of Canada lifted their price objective on Goldman Sachs Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 20th. Finally, Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $180.26.
The firm’s 50-day moving average is $161.60 and its 200-day moving average is $156.01. The company has a market cap of $70.77 billion and a PE ratio of 15.73.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 19th. The investment management company reported $3.72 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 analyst estimates of $7.58 billion. During the same period last year, the business earned $1.98 earnings per share. On average, analysts forecast that Goldman Sachs Group Inc. will post $14.30 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors 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.
An institutional investor recently raised its position in Goldman Sachs Group stock. Marshall Wace LLP raised its stake in shares of Goldman Sachs Group Inc. (NYSE:GS) by 417.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,095 shares of the investment management company’s stock after buying an additional 6,531 shares during the period. Marshall Wace LLP’s holdings in Goldman Sachs Group were worth $1,459,000 at the end of the most recent reporting period.
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.