JPMorgan Chase & Co. Reiterates “Buy” Rating for Goldman Sachs Group Inc. (GS)
Goldman Sachs Group Inc. (NYSE:GS)‘s stock had its “buy” rating reissued by investment analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Monday.
Several other brokerages have also issued reports on GS. Barclays PLC restated an “equal weight” rating and set a $210.00 target price on shares of Goldman Sachs Group in a research report on Tuesday, October 11th. Vetr upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $154.43 target price for the company in a research report on Monday, August 1st. Royal Bank Of Canada boosted their target price on Goldman Sachs Group from $160.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 19th. RBC Capital Markets set a $170.00 target price on Goldman Sachs Group and gave the company a “hold” rating in a research report on Wednesday, October 19th. Finally, Guggenheim lowered Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $184.93.
Goldman Sachs Group (NYSE:GS) opened at 211.75 on Monday. The company’s 50-day moving average price is $186.97 and its 200-day moving average price is $166.34. The company has a market cap of $88.68 billion, a price-to-earnings ratio of 16.99 and a beta of 1.55. Goldman Sachs Group has a 52-week low of $138.20 and a 52-week high of $213.41.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 18th. The investment management company reported $4.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a return on equity of 9.73% and a net margin of 19.58%. The company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the firm posted $4.51 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities research analysts expect that Goldman Sachs Group will post $15.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 1st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, November 29th. Goldman Sachs Group’s payout ratio is 20.72%.
In other Goldman Sachs Group news, EVP Alan M. Cohen sold 5,000 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $181.19, for a total value of $905,950.00. Following the sale, the executive vice president now directly owns 61,444 shares of the company’s stock, valued at $11,133,038.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $180.00, for a total transaction of $479,520.00. Following the completion of the sale, the insider now directly owns 13,075 shares in the company, valued at $2,353,500. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Whalerock Point Partners LLC acquired a new stake in Goldman Sachs Group during the third quarter valued at approximately $368,000. Piedmont Investment Advisors LLC acquired a new stake in Goldman Sachs Group during the third quarter valued at approximately $12,812,000. Colony Group LLC raised its stake in Goldman Sachs Group by 3.8% in the third quarter. Colony Group LLC now owns 9,149 shares of the investment management company’s stock valued at $1,475,000 after buying an additional 331 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Goldman Sachs Group by 1.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 819,351 shares of the investment management company’s stock valued at $132,137,000 after buying an additional 12,956 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Goldman Sachs Group by 0.7% in the third quarter. LPL Financial LLC now owns 27,936 shares of the investment management company’s stock valued at $4,533,000 after buying an additional 193 shares during the last quarter. 69.61% of the stock is currently owned by institutional investors.
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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