Goldman Sachs Group Inc (NYSE:GS) had its price target lowered by stock analysts at Bank of America Corp from $275.00 to $265.00 in a report released on Wednesday. The firm currently has a “buy” rating on the investment management company’s stock. Bank of America Corp’s price objective suggests a potential upside of 21.53% from the company’s current price.
A number of other brokerages also recently issued reports on GS. Compass Point assumed coverage on Goldman Sachs Group in a report on Wednesday, February 22nd. They issued a “neutral” rating and a $250.00 price target for the company. Berenberg Bank downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating and boosted their price target for the company from $140.00 to $190.00 in a report on Friday, February 24th. They noted that the move was a valuation call. Vetr downgraded Goldman Sachs Group from a “sell” rating to a “strong sell” rating and set a $215.99 price target for the company. in a report on Tuesday, February 14th. Macquarie reissued an “outperform” rating on shares of Goldman Sachs Group in a report on Thursday, February 16th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Goldman Sachs Group in a report on Tuesday, March 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $228.94.
Shares of Goldman Sachs Group (NYSE:GS) traded up 1.85% during trading on Wednesday, reaching $218.06. 5,164,665 shares of the company were exchanged. The firm has a market capitalization of $90.46 billion, a P/E ratio of 13.39 and a beta of 1.50. The firm’s 50 day moving average is $235.94 and its 200 day moving average is $222.39. Goldman Sachs Group has a 1-year low of $138.20 and a 1-year high of $255.15. Goldman Sachs Group also saw some unusual options trading on Tuesday. Investors purchased 8,747 call options on the company. This is an increase of 212% compared to the typical volume of 2,801 call options.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, April 18th. The investment management company reported $5.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.31 by $0.16. Goldman Sachs Group had a net margin of 24.17% and a return on equity of 9.78%. The company earned $8.03 billion during the quarter, compared to analyst estimates of $8.33 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The company’s revenue was up 26.6% compared to the same quarter last year. On average, equities analysts anticipate that Goldman Sachs Group will post $19.30 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.65. Goldman Sachs Group’s dividend payout ratio is presently 15.89%.
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In other news, EVP Alan M. Cohen sold 5,599 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $250.16, for a total value of $1,400,645.84. Following the transaction, the executive vice president now owns 77,135 shares in the company, valued at approximately $19,296,091.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Pablo J. Salame sold 16,185 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $240.19, for a total value of $3,887,475.15. Following the completion of the transaction, the insider now owns 146,133 shares in the company, valued at approximately $35,099,685.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,990 shares of company stock worth $22,362,560. Company insiders own 2.61% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GS. State of Alaska Department of Revenue purchased a new position in Goldman Sachs Group during the first quarter worth about $399,000. Rothschild Investment Corp IL increased its position in Goldman Sachs Group by 9.4% in the first quarter. Rothschild Investment Corp IL now owns 36,413 shares of the investment management company’s stock worth $8,365,000 after buying an additional 3,143 shares in the last quarter. Oakbrook Investments LLC increased its position in Goldman Sachs Group by 5.1% in the first quarter. Oakbrook Investments LLC now owns 26,750 shares of the investment management company’s stock worth $6,145,000 after buying an additional 1,300 shares in the last quarter. Beech Hill Advisors Inc. purchased a new position in Goldman Sachs Group during the first quarter worth about $428,000. Finally, Bollard Group LLC increased its position in Goldman Sachs Group by 5.1% in the first quarter. Bollard Group LLC now owns 14,629 shares of the investment management company’s stock worth $3,361,000 after buying an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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