Goldman Sachs Group Inc. (GS) Issues Quarterly Earnings Results
Goldman Sachs Group Inc. (NYSE:GS) released its quarterly earnings data on Tuesday. The investment management company reported $4.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%.
Goldman Sachs Group (NYSE:GS) opened at 169.00 on Tuesday. The company has a market cap of $72.06 billion, a price-to-earnings ratio of 16.02 and a beta of 1.61. The stock has a 50 day moving average price of $167.00 and a 200 day moving average price of $159.95. Goldman Sachs Group has a 52 week low of $138.20 and a 52 week high of $199.90.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 1st were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 annualized dividend and a dividend yield of 1.54%. Goldman Sachs Group’s payout ratio is 24.60%.
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In other news, EVP Edith W. Cooper sold 14,000 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 33,634 shares of the company’s stock, valued at $5,586,943.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total value of $452,880.00. Following the completion of the transaction, the insider now directly owns 13,075 shares of the company’s stock, valued at $2,222,750. The disclosure for this sale can be found here. 2.61% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. acquired a new position in Goldman Sachs Group during the second quarter valued at about $102,000. Cedar Wealth Management LLC increased its position in 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 valued at $141,000 after buying an additional 284 shares during the last quarter. Krilogy Financial LLC increased its position in Goldman Sachs Group by 227.8% in the second quarter. Krilogy Financial LLC now owns 1,213 shares of the investment management company’s stock valued at $180,000 after buying an additional 843 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in Goldman Sachs Group by 6.8% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,408 shares of the investment management company’s stock valued at $209,000 after buying an additional 90 shares during the last quarter. Finally, Northeast Financial Consultants Inc purchased a new position in Goldman Sachs Group during the second quarter valued at approximately $213,000. 71.33% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Sunday, June 26th. Oppenheimer Holdings Inc. raised their price objective on Goldman Sachs Group from $222.00 to $223.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. BMO Capital Markets reissued an “outperform” rating and set a $214.00 price target (up from $197.00) on shares of Goldman Sachs Group in a report on Friday, July 22nd. Finally, Vetr raised Goldman Sachs Group from a “sell” rating to a “strong-buy” rating and set a $179.28 price target for the company in a report on Thursday, September 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $179.91.
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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