The Goldman Sachs Group (NYSE:GS) Releases Earnings Results, Beats Estimates By $3.04 EPS

The Goldman Sachs Group (NYSE:GS) issued its earnings results on Monday. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04, RTT News reports. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the prior year, the firm posted $8.79 EPS. The Goldman Sachs Group’s quarterly revenue was up 16.1% compared to the same quarter last year.

The Goldman Sachs Group Stock Up 1.8 %

GS stock traded up $7.05 during trading on Wednesday, hitting $403.91. 4,362,922 shares of the company’s stock traded hands, compared to its average volume of 2,364,446. The firm has a market capitalization of $131.08 billion, a P/E ratio of 15.50, a PEG ratio of 1.56 and a beta of 1.43. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $419.20. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The business has a fifty day simple moving average of $395.32 and a two-hundred day simple moving average of $365.08.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.72%. The Goldman Sachs Group’s payout ratio is presently 42.95%.

Wall Street Analyst Weigh In

GS has been the subject of several recent analyst reports. Barclays upped their price target on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Citigroup lifted their target price on The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Tuesday. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target for the company in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Finally, Evercore ISI increased their target price on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $434.93.

Insiders Place Their Bets

In related news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Philip R. Berlinski sold 11,650 shares of The Goldman Sachs Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock worth $13,950,851 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds have recently modified their holdings of the company. Powell Investment Advisors LLC grew its holdings in The Goldman Sachs Group by 0.7% in the first quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock valued at $1,603,000 after purchasing an additional 25 shares during the period. WNY Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 1.6% during the 4th quarter. WNY Asset Management LLC now owns 1,627 shares of the investment management company’s stock valued at $628,000 after buying an additional 26 shares in the last quarter. Albert D Mason Inc. increased its holdings in The Goldman Sachs Group by 4.3% in the 4th quarter. Albert D Mason Inc. now owns 662 shares of the investment management company’s stock worth $255,000 after acquiring an additional 27 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in The Goldman Sachs Group by 1.4% during the fourth quarter. Mayflower Financial Advisors LLC now owns 1,970 shares of the investment management company’s stock worth $760,000 after acquiring an additional 28 shares during the period. Finally, Avitas Wealth Management LLC lifted its holdings in The Goldman Sachs Group by 0.7% during the fourth quarter. Avitas Wealth Management LLC now owns 4,435 shares of the investment management company’s stock valued at $1,711,000 after purchasing an additional 29 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

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.