Goldman Sachs Group Inc. (GS) Upgraded to Buy at Rafferty Capital Markets
Goldman Sachs Group Inc. (NYSE:GS) was upgraded by stock analysts at Rafferty Capital Markets from a “hold” rating to a “buy” rating in a note issued to investors on Monday, The Fly reports.
Other equities analysts have also recently issued research reports about the company. Bank of America Corp. reaffirmed a “buy” rating and issued a $160.00 price target (down previously from $185.00) on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Citigroup Inc. reaffirmed a “buy” rating on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Vetr raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 price target for the company in a report on Tuesday, July 5th. JPMorgan Chase & Co. set a $163.00 price target on Goldman Sachs Group and gave the company a “buy” rating in a report on Monday, June 27th. Finally, Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Monday, June 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $179.91.
Shares of Goldman Sachs Group (NYSE:GS) traded down 0.89% during mid-day trading on Monday, reaching $169.00. The company’s stock had a trading volume of 3,022,369 shares. The company has a 50 day moving average of $166.91 and a 200-day moving average of $159.81. Goldman Sachs Group has a 12 month low of $138.20 and a 12 month high of $199.90. The firm has a market capitalization of $72.06 billion, a P/E ratio of 16.02 and a beta of 1.61.
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Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.00 by $0.72. The firm earned $7.93 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. During the same quarter in the prior year, the firm posted $1.98 EPS. Equities research analysts forecast that Goldman Sachs Group will post $14.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st were given a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a yield of 1.52%. Goldman Sachs Group’s payout ratio is 24.60%.
In other Goldman Sachs Group news, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total value of $452,880.00. Following the transaction, the insider now directly owns 13,075 shares in the company, valued at approximately $2,222,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $166.11, for a total value of $2,325,540.00. Following the completion of the transaction, the executive vice president now owns 33,634 shares in the company, valued at $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GS. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Goldman Sachs Group during the second quarter worth approximately $102,000. Nelson Roberts Investment Advisors LLC raised its position in shares of Goldman Sachs Group by 26.8% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 710 shares of the investment management company’s stock worth $105,000 after buying an additional 150 shares during the last quarter. CKW Financial Group raised its position in shares of Goldman Sachs Group by 33.3% in the second quarter. CKW Financial Group now owns 800 shares of the investment management company’s stock worth $119,000 after buying an additional 200 shares during the last quarter. Cedar Wealth Management LLC raised its position in shares of Goldman Sachs Group by 42.9% in the second quarter. Cedar Wealth Management LLC now owns 946 shares of the investment management company’s stock worth $141,000 after buying an additional 284 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Goldman Sachs Group by 0.5% in the second quarter. Chicago Partners Investment Group LLC now owns 1,042 shares of the investment management company’s stock worth $155,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors 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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