The Goldman Sachs Group (NYSE:GS) Issues Earnings Results, Beats Expectations By $3.01 EPS

The Goldman Sachs Group (NYSE:GS) released its quarterly earnings data on Monday. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.57 by $3.01, RTT News reports. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The business had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the prior year, the company posted $8.79 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis.

The Goldman Sachs Group Stock Up 3.6 %

Shares of NYSE:GS traded up $13.91 during trading on Monday, hitting $403.40. 2,573,996 shares of the company were exchanged, compared to its average volume of 2,268,675. The stock has a market capitalization of $130.92 billion, a P/E ratio of 17.07, a PEG ratio of 1.51 and a beta of 1.43. 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 has a 12-month low of $289.36 and a 12-month high of $419.20. The firm’s 50 day moving average price is $394.74 and its 200-day moving average price is $364.03.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the transaction, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares in the company, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Insiders sold a total of 38,907 shares of company stock worth $15,080,021 in the last 90 days. 0.57% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

Hedge funds have recently bought and sold shares of the stock. Fairfield Bush & CO. bought a new position in The Goldman Sachs Group during the 1st quarter valued at about $66,000. Candriam Luxembourg S.C.A. lifted its holdings in 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 purchasing an additional 38,727 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in 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 purchasing an additional 18,540 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in 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 purchasing an additional 366 shares during the last quarter. Finally, Covestor Ltd increased its position in The Goldman Sachs Group by 118.3% in the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock valued at $102,000 after acquiring an additional 168 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on GS shares. UBS Group increased their price target on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Barclays increased their price target on The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Edward Jones initiated coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Morgan Stanley raised The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Finally, Evercore ISI boosted their price target on The Goldman Sachs Group from $418.00 to $435.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $423.05.

The Goldman Sachs Group Company Profile

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.