Goldman Sachs Group Inc. (GS) Stock Rating Upgraded by Macquarie
Goldman Sachs Group Inc. (NYSE:GS) was upgraded by investment analysts at Macquarie from a “neutral” rating to an “outperform” rating in a report released on Friday.
Other equities analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. set a $176.00 target price on shares of Goldman Sachs Group and gave the company a “buy” rating in a research note on Thursday, September 22nd. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research note on Tuesday, September 20th. Oppenheimer Holdings Inc. set a $222.00 target price on shares of Goldman Sachs Group and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Nomura restated a “buy” rating and set a $197.00 target price on shares of Goldman Sachs Group in a research note on Thursday, September 29th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $181.38.
Goldman Sachs Group (NYSE:GS) opened at 209.63 on Friday. Goldman Sachs Group has a 52-week low of $138.20 and a 52-week high of $211.77. The stock has a 50 day moving average of $178.45 and a 200-day moving average of $164.06. The company has a market capitalization of $87.79 billion, a price-to-earnings ratio of 16.82 and a beta of 1.55.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 18th. The investment management company reported $4.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.79 by $1.09. The business had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.51 EPS. On average, equities research analysts anticipate that Goldman Sachs Group will post $15.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.24%. Goldman Sachs Group’s dividend payout ratio is currently 20.72%.
In other news, insider Sarah G. Smith sold 392 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $206.36, for a total transaction of $80,893.12. Following the completion of the transaction, the insider now directly owns 22,103 shares in the company, valued at approximately $4,561,175.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan M. Cohen sold 5,322 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $208.82, for a total value of $1,111,340.04. Following the transaction, the executive vice president now owns 85,528 shares of the company’s stock, valued at $17,859,956.96. The disclosure for this sale can be found here. Insiders own 2.61% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baxter Bros Inc. purchased a new position in Goldman Sachs Group during the second quarter worth approximately $2,327,000. Cacti Asset Management LLC increased its position in Goldman Sachs Group by 1.0% in the second quarter. Cacti Asset Management LLC now owns 177,281 shares of the investment management company’s stock worth $26,340,000 after buying an additional 1,723 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Goldman Sachs Group during the first quarter worth approximately $755,000. Cullinan Associates Inc. increased its position in Goldman Sachs Group by 38.5% in the first quarter. Cullinan Associates Inc. now owns 7,200 shares of the investment management company’s stock worth $1,130,000 after buying an additional 2,000 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its position in Goldman Sachs Group by 5.5% in the first quarter. First Republic Investment Management Inc. now owns 177,858 shares of the investment management company’s stock worth $27,921,000 after buying an additional 9,211 shares in the last quarter. Hedge funds and other institutional investors own 71.29% 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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