Goldman Sachs Group Inc. (GS) Upgraded to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of Goldman Sachs Group Inc. (NYSE:GS) from a sell rating to a strong-buy rating in a research note released on Thursday morning. The firm currently has $179.28 target price on the investment management company’s stock.
Several other analysts also recently weighed in on the stock. Nomura reaffirmed a buy rating and issued a $197.00 target price (up previously from $195.00) on shares of Goldman Sachs Group in a report on Tuesday, July 19th. Berenberg Bank started coverage on shares of Goldman Sachs Group in a report on Wednesday, July 13th. They issued a hold rating and a $140.00 target price on the stock. Credit Suisse Group AG raised shares of Goldman Sachs Group to a buy rating in a report on Tuesday, July 12th. Oppenheimer Holdings Inc. set a $222.00 price objective on shares of Goldman Sachs Group and gave the stock a buy rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research downgraded shares of Goldman Sachs Group from a buy rating to a hold rating in a report on Monday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $181.07.
Goldman Sachs Group (NYSE:GS) traded up 0.09% on Thursday, hitting $159.10. 1,007,929 shares of the company traded hands. Goldman Sachs Group has a 12 month low of $138.20 and a 12 month high of $199.90. The stock’s 50-day moving average is $166.47 and its 200 day moving average is $158.82. The stock has a market cap of $67.84 billion, a PE ratio of 15.08 and a beta of 1.68.
Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.72. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.58 billion. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. During the same quarter in the previous year, the firm earned $1.98 earnings per share. Equities research analysts expect that Goldman Sachs Group will post $14.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 1st were given a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a yield of 1.64%. Goldman Sachs Group’s dividend payout ratio is presently 24.60%.
In related news, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total value of $452,880.00. Following the completion of the transaction, the insider now owns 13,075 shares in the company, valued at approximately $2,222,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 33,634 shares of the company’s stock, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in GS. Thomas J. Herzfeld Advisors Inc. acquired a new position in Goldman Sachs Group during the second quarter valued at $102,000. Nelson Roberts Investment Advisors LLC raised its position in Goldman Sachs Group by 26.8% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 710 shares of the investment management company’s stock valued at $105,000 after buying an additional 150 shares during the period. CKW Financial Group raised its position in Goldman Sachs Group by 33.3% in the second quarter. CKW Financial Group now owns 800 shares of the investment management company’s stock valued at $119,000 after buying an additional 200 shares during the period. Cedar Wealth Management LLC raised its position in Goldman Sachs Group by 42.9% in the second quarter. Cedar Wealth Management LLC now owns 946 shares of the investment management company’s stock valued at $141,000 after buying an additional 284 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Goldman Sachs Group by 0.5% in the second quarter. Chicago Partners Investment Group LLC now owns 1,042 shares of the investment management company’s stock valued at $155,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 70.77% of the company’s stock.
Goldman Sachs Group Company Profile
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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