Goldman Sachs Group Inc. (GS) Sees Large Volume Increase
Goldman Sachs Group Inc. (NYSE:GS) saw strong trading volume on Wednesday . 2,033,920 shares traded hands during mid-day trading, a decline of 2% from the previous session’s volume of 2,073,312 shares.The stock last traded at $168.76 and had previously closed at $169.37.
A number of analysts have recently issued reports on the company. Vetr upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 target price for the company in a report on Tuesday, July 5th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $214.00 target price (down previously from $243.00) on shares of Goldman Sachs Group in a report on Wednesday, July 6th. Societe Generale set a $120.00 target price on Goldman Sachs Group and gave the company a “sell” rating in a report on Friday, May 6th. Berenberg Bank assumed coverage on Goldman Sachs Group in a report on Wednesday, July 13th. They issued a “hold” rating and a $140.00 target price for the company. Finally, Citigroup Inc. restated a “buy” rating on shares of Goldman Sachs Group in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $180.26.
The stock’s 50 day moving average is $162.88 and its 200 day moving average is $156.59. The firm has a market cap of $72.26 billion and a P/E ratio of 16.06.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.00 by $0.72. The company earned $7.93 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the firm posted $1.98 earnings per share. On average, analysts predict that Goldman Sachs Group Inc. will post $14.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 1st will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.60 annualized dividend and a yield of 1.53%.
In related news, EVP Edith W. Cooper sold 14,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were 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 directly owns 33,634 shares of the company’s stock, valued at approximately $5,586,943.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently raised its position in Goldman Sachs Group stock. I.G. Investment Management LTD. increased its stake in shares of Goldman Sachs Group Inc. (NYSE:GS) by 105.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,175 shares of the investment management company’s stock after buying an additional 13,405 shares during the period. I.G. Investment Management LTD.’s holdings in Goldman Sachs Group were worth $4,718,000 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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