Goldman Sachs Group Inc. (GS) Lowered to Hold at Vetr Inc.
Goldman Sachs Group Inc. (NYSE:GS) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They currently have a $179.28 price target on the investment management company’s stock. Vetr‘s price objective indicates a potential upside of 3.85% from the stock’s previous close.
GS has been the topic of several other reports. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Monday, June 27th. JPMorgan Chase & Co. set a $163.00 target price on Goldman Sachs Group and gave the company a “buy” rating in a research report on Monday, June 27th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Sunday, June 26th. Royal Bank Of Canada set a $145.00 target price on Goldman Sachs Group and gave the company a “neutral” rating in a research report on Tuesday, June 28th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Goldman Sachs Group in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $180.81.
Goldman Sachs Group (NYSE:GS) traded up 2.15% on Tuesday, hitting $172.63. The stock had a trading volume of 4,482,486 shares. The company has a market cap of $73.61 billion, a price-to-earnings ratio of 16.36 and a beta of 1.61. Goldman Sachs Group has a 52-week low of $138.20 and a 52-week high of $199.90. The company has a 50 day moving average price of $167.16 and a 200-day moving average price of $160.04.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 18th. The investment management company reported $4.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.79 by $1.09. The firm earned $8.17 billion during the quarter, compared to analyst estimates of $7.41 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.51 EPS. On average, equities research analysts predict that Goldman Sachs Group will post $14.25 earnings per share for the current year.
The firm also recently disclosed 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 was Tuesday, August 30th. This represents a $2.60 annualized dividend and a yield of 1.51%. Goldman Sachs Group’s payout ratio is 24.60%.
In other news, insider Sarah G. Smith sold 2,664 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the transaction, the insider now directly owns 13,075 shares in the company, valued at $2,222,750. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Edith W. Cooper sold 14,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $166.11, for a total value of $2,325,540.00. Following the transaction, the executive vice president now owns 33,634 shares of the company’s stock, valued at $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Western Capital Management Co raised its position in Goldman Sachs Group by 4.4% in the third quarter. First Western Capital Management Co now owns 13,164 shares of the investment management company’s stock valued at $2,123,000 after buying an additional 550 shares in the last quarter. Rothschild Investment Corp IL raised its position in Goldman Sachs Group by 3.4% in the third quarter. Rothschild Investment Corp IL now owns 40,322 shares of the investment management company’s stock valued at $6,503,000 after buying an additional 1,340 shares in the last quarter. Capital Investment Advisors LLC raised its position in Goldman Sachs Group by 17.2% in the third quarter. Capital Investment Advisors LLC now owns 12,275 shares of the investment management company’s stock valued at $1,980,000 after buying an additional 1,797 shares in the last quarter. CrestPoint Capital Management LLC purchased a new position in Goldman Sachs Group during the third quarter valued at approximately $306,000. Finally, Integrated Investment Consultants LLC raised its position in Goldman Sachs Group by 11.1% in the third quarter. Integrated Investment Consultants LLC now owns 4,000 shares of the investment management company’s stock valued at $670,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 71.33% 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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