According to Zacks, “Goldman’s well-diversified business apart from its strong investment banking operations continues to ensure earnings stability. The company’s focus to capitalize on new growth opportunities through several strategic investments including its digital consumer lending platform, bolsters its overall business growth. We remain optimistic as Goldman received regulators’ approval for its 2016 capital plan demonstrating its financial strength. However, lower client activity levels amid macroeconomic headwinds continue to weigh on revenue fro several client services division. Also, costs stemming from unresolved litigations and stringent financial reforms remain near to medium-term headwinds.”
Other research analysts also recently issued reports about the company. Vetr upgraded Goldman Sachs Group from a hold rating to a buy rating and set a $153.68 target price for the company in a research note on Tuesday, July 5th. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $214.00 target price (down from $243.00) on shares of Goldman Sachs Group in a research note on Wednesday, July 6th. Berenberg Bank began coverage on Goldman Sachs Group in a research note on Wednesday, July 13th. They set a hold rating and a $140.00 target price for the company. Citigroup Inc. reiterated a buy rating on shares of Goldman Sachs Group in a research note on Wednesday, June 29th. Finally, Nomura reiterated a buy rating and set a $197.00 target price (up from $195.00) on shares of Goldman Sachs Group in a research note on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $180.41.
Goldman Sachs Group (NYSE:GS) traded up 0.2167% on Monday, reaching $161.8299. The company’s stock had a trading volume of 484,150 shares. The company has a 50-day moving average price of $166.56 and a 200 day moving average price of $158.73. The company has a market cap of $69.00 billion, a P/E ratio of 15.3408 and a beta of 1.68. Goldman Sachs Group has a 12 month low of $138.20 and a 12 month high of $199.90.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.72. The firm had revenue of $7.93 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.98 EPS. On average, equities research analysts anticipate that Goldman Sachs Group will post $14.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st will be given a $0.65 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.61%. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 24.60%.
In other Goldman Sachs Group news, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total value of $452,880.00. Following the sale, the insider now owns 13,075 shares in the company, valued at approximately $2,222,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Edith W. Cooper sold 14,000 shares of the company’s stock in a transaction dated 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 sale, 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. 2.61% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in GS. PGGM Investments raised its stake in Goldman Sachs Group by 2.5% in the first quarter. PGGM Investments now owns 37,606 shares of the investment management company’s stock worth $5,903,000 after buying an additional 916 shares during the period. First Manhattan Co. raised its stake in shares of Goldman Sachs Group by 28.7% in the first quarter. First Manhattan Co. now owns 4,120 shares of the investment management company’s stock valued at $646,000 after buying an additional 919 shares during the last quarter. Sii Investments Inc. WI raised its stake in shares of Goldman Sachs Group by 0.6% in the first quarter. Sii Investments Inc. WI now owns 14,099 shares of the investment management company’s stock valued at $2,213,000 after buying an additional 80 shares during the last quarter. Factory Mutual Insurance Co. raised its stake in shares of Goldman Sachs Group by 3.5% in the first quarter. Factory Mutual Insurance Co. now owns 393,600 shares of the investment management company’s stock valued at $61,787,000 after buying an additional 13,300 shares during the last quarter. Finally, Telemus Capital LLC acquired a new stake in shares of Goldman Sachs Group during the first quarter valued at approximately $270,000. Hedge funds and other institutional investors own 70.77% of the company’s stock.
About Goldman Sachs Group
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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