Goldman Sachs Group (NYSE:GS) had its price target trimmed by Credit Suisse Group from $280.00 to $258.00 in a report published on Friday, The Fly reports. The firm currently has an outperform rating on the investment management company’s stock.
Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. restated a buy rating and set a $285.00 price target on shares of Goldman Sachs Group in a research note on Monday, September 10th. Zacks Investment Research upgraded Goldman Sachs Group from a hold rating to a buy rating and set a $206.00 price target on the stock in a research note on Friday. Wolfe Research assumed coverage on Goldman Sachs Group in a research note on Tuesday, September 25th. They set an outperform rating on the stock. Wells Fargo & Co restated a buy rating on shares of Goldman Sachs Group in a research note on Thursday, September 20th. Finally, Morgan Stanley cut Goldman Sachs Group from an overweight rating to an equal weight rating and set a $226.00 price target on the stock. in a research note on Wednesday, November 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $271.15.
NYSE:GS traded down $4.42 during trading hours on Friday, reaching $179.67. 3,919,320 shares of the stock were exchanged, compared to its average volume of 4,134,521. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.04. Goldman Sachs Group has a twelve month low of $179.00 and a twelve month high of $275.31. The stock has a market capitalization of $68.48 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, topping analysts’ consensus estimates of $5.38 by $0.90. Goldman Sachs Group had a return on equity of 14.10% and a net margin of 16.68%. The company had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.43 billion. During the same period in the prior year, the firm earned $5.02 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Goldman Sachs Group will post 25.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 29th. Goldman Sachs Group’s dividend payout ratio is currently 16.19%.
Institutional investors have recently bought and sold shares of the company. Capital International Investors increased its holdings in Goldman Sachs Group by 2,110.7% in the third quarter. Capital International Investors now owns 4,882,975 shares of the investment management company’s stock valued at $1,094,958,000 after buying an additional 4,662,095 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Goldman Sachs Group by 716.4% in the second quarter. Renaissance Technologies LLC now owns 801,657 shares of the investment management company’s stock valued at $176,821,000 after buying an additional 703,457 shares during the last quarter. Investec Asset Management LTD increased its holdings in Goldman Sachs Group by 360.3% in the second quarter. Investec Asset Management LTD now owns 704,170 shares of the investment management company’s stock valued at $155,319,000 after buying an additional 551,181 shares during the last quarter. Prudential Financial Inc. increased its holdings in Goldman Sachs Group by 83.4% in the third quarter. Prudential Financial Inc. now owns 1,025,962 shares of the investment management company’s stock valued at $230,062,000 after buying an additional 466,410 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Goldman Sachs Group in the third quarter valued at $82,012,000. 70.94% of the stock is currently owned by institutional investors and hedge funds.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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