Traders Buy Goldman Sachs Group Inc. (GS) on Weakness
Investors bought shares of Goldman Sachs Group Inc. (NYSE:GS) on weakness during trading on Thursday. $133.70 million flowed into the stock on the tick-up and $90.71 million flowed out of the stock on the tick-down, for a money net flow of $42.99 million into the stock. Of all stocks tracked, Goldman Sachs Group had the 33rd highest net in-flow for the day. Goldman Sachs Group traded down ($0.95) for the day and closed at $168.51
Several brokerages have issued reports on GS. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Goldman Sachs Group in a report on Saturday, July 9th. Deutsche Bank AG reiterated a “hold” rating on shares of Goldman Sachs Group in a research note on Sunday, June 26th. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 5th. Vetr upgraded shares of Goldman Sachs Group from a “buy” rating to a “strong-buy” rating and set a $178.94 price target for the company in a research note on Thursday, May 5th. Finally, Oppenheimer Holdings Inc. lifted their price target on shares of Goldman Sachs Group from $222.00 to $223.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $178.60.
The stock’s 50 day moving average price is $163.18 and its 200-day moving average price is $156.67. The firm has a market cap of $71.85 billion and a P/E ratio of 15.97.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.72. During the same period in the prior year, the business posted $1.98 earnings per share. The business had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. On average, analysts forecast that Goldman Sachs Group Inc. will post $14.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.54%.
In other news, EVP Edith W. Cooper sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the sale, the executive vice president now owns 33,634 shares of the company’s stock, valued at approximately $5,586,943.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in Goldman Sachs Group stock. Baird Financial Group Inc. boosted its position in Goldman Sachs Group Inc. (NYSE:GS) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,713 shares of the investment management company’s stock after buying an additional 140 shares during the period. Baird Financial Group Inc.’s holdings in Goldman Sachs Group were worth $2,652,000 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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