Goldman Sachs Group (GS) Posts Quarterly Earnings Results

Goldman Sachs Group (NYSE:GS) issued its quarterly earnings data on Monday. The investment management company reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.97, MarketWatch Earnings reports. The company had revenue of $8.81 billion for the quarter, compared to analyst estimates of $8.89 billion. Goldman Sachs Group had a return on equity of 12.35% and a net margin of 25.13%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $6.95 earnings per share.

NYSE GS opened at $201.84 on Wednesday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.92 and a current ratio of 0.86. Goldman Sachs Group has a 52-week low of $151.70 and a 52-week high of $262.25. The stock has a market cap of $73.32 billion, a P/E ratio of 7.99, a P/E/G ratio of 1.29 and a beta of 1.22.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 12.66%.

Several brokerages have issued reports on GS. BMO Capital Markets reaffirmed a “hold” rating on shares of Goldman Sachs Group in a report on Monday, January 21st. JPMorgan Chase & Co. set a $235.00 price objective on Goldman Sachs Group and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley raised their price target on Goldman Sachs Group from $207.00 to $218.00 and gave the stock an “equal weight” rating in a report on Tuesday. Zacks Investment Research raised Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, HSBC set a $202.00 price target on Goldman Sachs Group and gave the stock a “neutral” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $245.85.

In other Goldman Sachs Group news, EVP Dane E. Holmes sold 1,489 shares of Goldman Sachs Group stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $198.31, for a total value of $295,283.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.41% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its position in shares of Goldman Sachs Group by 17,481.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,641,354 shares of the investment management company’s stock valued at $100,000 after acquiring an additional 16,546,702 shares during the period. Norges Bank acquired a new stake in shares of Goldman Sachs Group during the 4th quarter valued at approximately $474,398,000. Lakewood Capital Management LP acquired a new stake in shares of Goldman Sachs Group during the 4th quarter valued at approximately $136,480,000. Jennison Associates LLC lifted its position in shares of Goldman Sachs Group by 17.8% during the 4th quarter. Jennison Associates LLC now owns 4,710,738 shares of the investment management company’s stock valued at $786,929,000 after acquiring an additional 710,479 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Goldman Sachs Group by 10.6% during the 4th quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock valued at $715,573,000 after acquiring an additional 411,700 shares during the period. 70.11% of the stock is currently owned by institutional investors.

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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.

Further Reading: Balance Sheet

Earnings History for Goldman Sachs Group (NYSE:GS)

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