Seaport Res Ptn Research Analysts Raise Earnings Estimates for The Goldman Sachs Group, Inc. (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Stock analysts at Seaport Res Ptn upped their Q2 2024 earnings per share (EPS) estimates for The Goldman Sachs Group in a research report issued on Thursday, April 4th. Seaport Res Ptn analyst J. Mitchell now expects that the investment management company will post earnings of $8.42 per share for the quarter, up from their previous estimate of $8.17. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $33.14 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q3 2024 earnings at $8.73 EPS and Q4 2025 earnings at $9.41 EPS.

GS has been the subject of a number of other reports. Royal Bank of Canada restated a “sector perform” rating and issued a $390.00 price objective on shares of The Goldman Sachs Group in a report on Wednesday, March 27th. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $421.00 to $424.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Barclays increased their target price on The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, BMO Capital Markets boosted their price objective on The Goldman Sachs Group from $357.00 to $360.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $423.05.

The Goldman Sachs Group Price Performance

GS opened at $410.78 on Monday. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $419.20. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.29. The stock has a 50-day moving average price of $394.09 and a 200-day moving average price of $362.53. The stock has a market capitalization of $133.31 billion, a P/E ratio of 18.00, a PEG ratio of 1.57 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $1.86. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The company had revenue of $11.32 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the business earned $3.32 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WNY Asset Management LLC boosted its position in The Goldman Sachs Group by 1.6% in the fourth quarter. WNY Asset Management LLC now owns 1,627 shares of the investment management company’s stock worth $628,000 after purchasing an additional 26 shares during the last quarter. Albert D Mason Inc. increased its stake in shares of The Goldman Sachs Group by 4.3% in the 4th quarter. Albert D Mason Inc. now owns 662 shares of the investment management company’s stock worth $255,000 after purchasing an additional 27 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in The Goldman Sachs Group by 1.4% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,970 shares of the investment management company’s stock worth $760,000 after purchasing an additional 28 shares during the period. Avitas Wealth Management LLC lifted its position in The Goldman Sachs Group by 0.7% during the fourth quarter. Avitas Wealth Management LLC now owns 4,435 shares of the investment management company’s stock valued at $1,711,000 after purchasing an additional 29 shares in the last quarter. Finally, Addison Advisors LLC increased its position in The Goldman Sachs Group by 7.5% in the fourth quarter. Addison Advisors LLC now owns 414 shares of the investment management company’s stock worth $160,000 after buying an additional 29 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Activity

In related news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the transaction, the insider now owns 10,121 shares in the company, valued at $3,809,443.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,907 shares of company stock worth $15,080,021. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Wednesday, February 28th. The Goldman Sachs Group’s dividend payout ratio is 48.20%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.