The Goldman Sachs Group (NYSE:GS) Trading 1.6% Higher – Still a Buy?

by · The Cerbat Gem

The Goldman Sachs Group, Inc. (NYSE:GS – Get Free Report)’s stock price shot up 1.6% during trading on Friday . The company traded as high as $525.86 and last traded at $525.84. 249,496 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,185,458 shares. The stock had previously closed at $517.79.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Bank of America boosted their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

Get Our Latest Research Report on GS

The Goldman Sachs Group Stock Up 1.0 %

The firm has a 50 day simple moving average of $502.25 and a two-hundred day simple moving average of $476.22. The company has a market capitalization of $165.22 billion, a PE ratio of 15.38, a P/E/G ratio of 0.76 and a beta of 1.36. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the business posted $5.47 EPS. The company’s revenue was up 7.4% on a year-over-year basis. Research analysts expect that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.29%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently modified their holdings of GS. AMF Tjanstepension AB lifted its holdings in shares of The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after buying an additional 743,402 shares during the period. 1832 Asset Management L.P. raised its holdings in The Goldman Sachs Group by 7,932.6% during the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after purchasing an additional 356,512 shares during the last quarter. Swedbank AB acquired a new position in The Goldman Sachs Group during the first quarter worth $137,134,000. Finally, Jennison Associates LLC raised its holdings in The Goldman Sachs Group by 18.0% during the first quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock worth $752,425,000 after purchasing an additional 274,509 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

(Get Free Report)

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.

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