The Goldman Sachs Group (NYSE:GS) Issues Earnings Results

The Goldman Sachs Group (NYSE:GS) announced its quarterly earnings results on Monday. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.57 by $3.01, RTT News reports. The firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.79 earnings per share.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded up $13.77 during trading on Monday, reaching $403.26. 2,589,820 shares of the company traded hands, compared to its average volume of 2,271,657. The company’s 50 day moving average is $394.74 and its two-hundred day moving average is $364.03. The firm has a market capitalization of $130.87 billion, a PE ratio of 17.62, a PEG ratio of 1.51 and a beta of 1.43. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.29. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20.

Analyst Ratings Changes

GS has been the subject of a number of research reports. UBS Group raised their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. HSBC raised their price target on shares of The Goldman Sachs Group from $432.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, March 28th. JMP Securities raised their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Edward Jones started coverage on shares of The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $423.05.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the completion of the sale, the insider now directly owns 10,121 shares in the company, valued at approximately $3,809,443.19. The sale was disclosed in a filing with the SEC, which is available through this link. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,463 shares in the company, valued at $4,357,659.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were 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 of the company’s stock, valued at $3,809,443.19. The disclosure for this sale can be found here. Insiders sold a total of 38,907 shares of company stock worth $15,080,021 in the last ninety days. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently made changes to their positions in GS. Worth Asset Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $33,000. Pacific Center for Financial Services acquired a new stake in The Goldman Sachs Group during the first quarter worth approximately $33,000. PCA Investment Advisory Services Inc. acquired a new stake in The Goldman Sachs Group during the second quarter worth approximately $34,000. First Capital Advisors Group LLC. acquired a new stake in The Goldman Sachs Group during the second quarter worth approximately $34,000. Finally, Compass Wealth Management LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.