Goldman Sachs Group (GS) Shares Gap Up to $250.65

Shares of Goldman Sachs Group Inc (NYSE:GS) gapped up before the market opened on Tuesday . The stock had previously closed at $246.41, but opened at $250.65. Goldman Sachs Group shares last traded at $249.26, with a volume of 1399985 shares traded.

A number of brokerages have recently weighed in on GS. Bank of America upped their price target on shares of Goldman Sachs Group from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $240.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, October 19th. TheStreet downgraded shares of Goldman Sachs Group from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $202.00 price objective on shares of Goldman Sachs Group in a research note on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $246.10.

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.82. The firm has a market capitalization of $93,670.45, a price-to-earnings ratio of 12.93, a PEG ratio of 1.26 and a beta of 1.47.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.17 by $0.85. The business had revenue of $8.33 billion during the quarter, compared to the consensus estimate of $7.59 billion. Goldman Sachs Group had a net margin of 26.42% and a return on equity of 11.34%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.88 earnings per share. research analysts anticipate that Goldman Sachs Group Inc will post 19.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.21%. Goldman Sachs Group’s payout ratio is 15.63%.

In related news, Director David A. Viniar sold 7,393 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $245.18, for a total transaction of $1,812,615.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Solomon sold 2,400 shares of Goldman Sachs Group stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $238.49, for a total transaction of $572,376.00. The disclosure for this sale can be found here. Insiders sold 135,177 shares of company stock valued at $32,435,160 in the last quarter. Corporate insiders own 2.57% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GS. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Goldman Sachs Group in the second quarter worth $101,000. WealthTrust Arizona LLC increased its stake in shares of Goldman Sachs Group by 97.1% in the second quarter. WealthTrust Arizona LLC now owns 469 shares of the investment management company’s stock worth $104,000 after buying an additional 231 shares during the period. Sterling Investment Advisors Ltd. increased its stake in shares of Goldman Sachs Group by 35.7% in the second quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock worth $105,000 after buying an additional 125 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in shares of Goldman Sachs Group in the second quarter worth $111,000. Finally, Gs Investments Inc. purchased a new position in shares of Goldman Sachs Group in the second quarter worth $111,000. Institutional investors and hedge funds own 73.35% of the company’s stock.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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