Goldman Sachs Group (GS) Receives “Outperform” Rating from Instinet
Instinet reaffirmed their outperform rating on shares of Goldman Sachs Group (NYSE:GS) in a research note released on Thursday morning. The brokerage currently has a $225.00 target price on the investment management company’s stock, down from their previous target price of $238.00.
Several other research analysts have also recently weighed in on the stock. Barclays upped their price target on shares of Goldman Sachs Group from $262.00 to $308.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Vertical Group raised shares of Goldman Sachs Group from a hold rating to a buy rating in a report on Friday, December 29th. Zacks Investment Research cut shares of Goldman Sachs Group from a buy rating to a hold rating in a report on Wednesday, December 20th. Wells Fargo & Co reaffirmed an outperform rating and issued a $295.00 price target (up previously from $265.00) on shares of Goldman Sachs Group in a report on Wednesday, December 20th. Finally, Bank of America increased their target price on Goldman Sachs Group from $290.00 to $300.00 and gave the company a buy rating in a research note on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Goldman Sachs Group currently has a consensus rating of Hold and an average price target of $251.11.
Goldman Sachs Group (NYSE:GS) traded down $1.31 during trading on Thursday, hitting $255.52. 2,585,240 shares of the stock traded hands, compared to its average volume of 2,780,000. The company has a market capitalization of $96,380.00, a PE ratio of 13.27, a P/E/G ratio of 1.02 and a beta of 1.47. Goldman Sachs Group has a 52-week low of $209.62 and a 52-week high of $262.14. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.82.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, topping the consensus estimate of $4.17 by $0.85. The firm had revenue of $8.33 billion for the quarter, compared to analysts’ expectations of $7.59 billion. Goldman Sachs Group had a net margin of 26.42% and a return on equity of 11.34%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.88 earnings per share. equities research analysts forecast that Goldman Sachs Group will post 19.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, November 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.17%. Goldman Sachs Group’s dividend payout ratio is currently 15.58%.
In other news, insider David M. Solomon sold 12,707 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $237.94, for a total transaction of $3,023,503.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Harvey M. Schwartz sold 25,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $245.00, for a total transaction of $6,125,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,177 shares of company stock valued at $32,435,160. 2.57% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. MV Capital Management Inc. lifted its holdings in Goldman Sachs Group by 0.5% in the second quarter. MV Capital Management Inc. now owns 618 shares of the investment management company’s stock worth $137,000 after buying an additional 3 shares during the period. Geller Family Office Services LLC lifted its holdings in Goldman Sachs Group by 0.3% in the second quarter. Geller Family Office Services LLC now owns 944 shares of the investment management company’s stock worth $209,000 after buying an additional 3 shares during the period. Hudock Capital Group LLC lifted its holdings in Goldman Sachs Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 1,134 shares of the investment management company’s stock worth $251,000 after buying an additional 4 shares during the period. FTB Advisors Inc. lifted its holdings in Goldman Sachs Group by 0.3% in the second quarter. FTB Advisors Inc. now owns 1,605 shares of the investment management company’s stock worth $360,000 after buying an additional 5 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. lifted its holdings in Goldman Sachs Group by 0.7% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 912 shares of the investment management company’s stock worth $202,000 after buying an additional 6 shares during the period. Institutional investors and hedge funds own 73.27% of the company’s stock.
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About Goldman Sachs Group
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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