Weekly Research Analysts’ Ratings Changes for The Goldman Sachs Group (GS)

The Goldman Sachs Group (NYSE: GS) recently received a number of ratings updates from brokerages and research firms:

• 4/9/2024 – The Goldman Sachs Group had its price target raised by analysts at JMP Securities from $440.00 to $460.00. They now have a “market outperform” rating on the stock.
• 4/5/2024 – The Goldman Sachs Group had its price target raised by analysts at Keefe, Bruyette & Woods from $445.00 to $485.00. They now have an “outperform” rating on the stock.
• 4/4/2024 – The Goldman Sachs Group had its price target raised by analysts at Evercore ISI from $418.00 to $435.00. They now have an “outperform” rating on the stock.
• 3/28/2024 – The Goldman Sachs Group had its price target raised by analysts at HSBC Holdings plc from $432.00 to $460.00. They now have a “buy” rating on the stock.
• 3/27/2024 – The Goldman Sachs Group had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $390.00 price target on the stock.
• 3/21/2024 – The Goldman Sachs Group had its price target raised by analysts at JPMorgan Chase & Co. from $421.00 to $424.00. They now have an “overweight” rating on the stock.
• 3/19/2024 – The Goldman Sachs Group had its price target lowered by analysts at Oppenheimer Holdings Inc. from $506.00 to $446.00. They now have an “outperform” rating on the stock.
• 3/14/2024 – The Goldman Sachs Group was upgraded by analysts at Daiwa Capital Markets from a “neutral” rating to an “outperform” rating. They now have a $430.00 price target on the stock, up previously from $410.00.
• 2/27/2024 – The Goldman Sachs Group is now covered by analysts at Edward Jones. They set a “buy” rating on the stock.

The Goldman Sachs Group Stock Down 2.5 %

NYSE:GS traded down $10.46 during mid-day trading on Wednesday, reaching $400.25. The stock had a trading volume of 1,236,354 shares, compared to its average volume of 2,250,076. The company has a market capitalization of $129.89 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.58 and a beta of 1.43. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $419.20. The stock’s 50 day simple moving average is $394.09 and its two-hundred day simple moving average is $362.53. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.76 and a quick ratio of 0.76.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $1.86. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The firm had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter last year, the company posted $3.32 earnings per share. The Goldman Sachs Group’s revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 33.14 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a dividend of $2.75 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.75%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 48.20%.

Insider Activity

In other news, CAO Sheara J. Fredman sold 4,300 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the transaction, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,907 shares of company stock valued at $15,080,021. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $66,000. Candriam Luxembourg S.C.A. boosted its stake in shares of The Goldman Sachs Group by 1,505.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock valued at $13,633,000 after buying an additional 38,727 shares during the period. Baird Financial Group Inc. boosted its stake in shares of The Goldman Sachs Group by 18.5% during the 1st quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock valued at $39,153,000 after buying an additional 18,540 shares during the period. Zions Bancorporation N.A. boosted its stake in shares of The Goldman Sachs Group by 79.4% during the 1st quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock valued at $273,000 after buying an additional 366 shares during the period. Finally, Covestor Ltd boosted its stake in shares of The Goldman Sachs Group by 118.3% during the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock valued at $102,000 after buying an additional 168 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.