Goldman Sachs Group Inc. (GS) Shares Gap Up Following Analyst Upgrade
Goldman Sachs Group Inc. (NYSE:GS) shares gapped up before the market opened on Monday after Citigroup raised their price target on the stock from $180.00 to $195.00. The stock had previously closed at $169.71, but opened at $169.83. Citigroup currently has a buy rating on the stock. Goldman Sachs Group shares last traded at $171.49, with a volume of 1,375,399 shares trading hands.
Several other research analysts have also issued reports on the company. Nomura reaffirmed a “buy” rating and set a $197.00 target price (up from $195.00) on shares of Goldman Sachs Group in a research report on Tuesday, July 19th. Berenberg Bank initiated coverage on Goldman Sachs Group in a research report on Wednesday, July 13th. They set a “hold” rating and a $140.00 target price on the stock. Vetr raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 target price on the stock in a research report on Tuesday, July 5th. Credit Suisse Group AG raised Goldman Sachs Group to a “buy” rating in a research report on Tuesday, July 12th. Finally, Oppenheimer Holdings Inc. set a $222.00 target price on Goldman Sachs Group and gave the company a “buy” rating in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $181.82.
In other Goldman Sachs Group news, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 13,075 shares in the company, valued at $2,222,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. Company insiders own 2.61% of the company’s stock.
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A number of institutional investors have recently modified their holdings of the company. Pictet Asset Management Ltd. increased its position in shares of Goldman Sachs Group by 0.6% in the first quarter. Pictet Asset Management Ltd. now owns 212,227 shares of the investment management company’s stock worth $31,734,000 after buying an additional 1,200 shares in the last quarter. Rafferty Asset Management LLC boosted its position in shares of Goldman Sachs Group by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 57,004 shares of the investment management company’s stock worth $8,948,000 after buying an additional 18,789 shares during the last quarter. Gardner Lewis Asset Management L P boosted its position in shares of Goldman Sachs Group by 11.7% in the first quarter. Gardner Lewis Asset Management L P now owns 15,610 shares of the investment management company’s stock worth $2,450,000 after buying an additional 1,635 shares during the last quarter. Pegasus Partners Ltd. purchased a new position in shares of Goldman Sachs Group during the first quarter worth approximately $712,000. Finally, Kiltearn Partners LLP boosted its position in shares of Goldman Sachs Group by 35.7% in the first quarter. Kiltearn Partners LLP now owns 1,402,853 shares of the investment management company’s stock worth $220,220,000 after buying an additional 369,000 shares during the last quarter. Institutional investors own 70.77% of the company’s stock.
The stock has a market capitalization of $72.93 billion, a price-to-earnings ratio of 16.21 and a beta of 1.61. The company’s 50-day moving average price is $166.54 and its 200 day moving average price is $159.50.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.72. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. The business had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. Equities analysts expect that Goldman Sachs Group Inc. will post $14.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 1st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, August 30th. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 24.60%.
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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