Goldman Sachs Group Inc. (NYSE:GS) was downgraded by investment analysts at Vetr from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday. They currently have a $188.57 price target on the investment management company’s stock. Vetr‘s price target would suggest a potential downside of 11.18% from the stock’s previous close.
A number of other brokerages have also commented on GS. Rafferty Capital Markets raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, October 17th. Royal Bank Of Canada increased their target price on shares of Goldman Sachs Group from $160.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, October 19th. TheStreet raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. set a $176.00 target price on shares of Goldman Sachs Group and gave the company a “buy” rating in a report on Thursday, September 22nd. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $210.00 target price on shares of Goldman Sachs Group in a report on Tuesday, October 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $182.28.
Goldman Sachs Group (NYSE:GS) traded up 0.57% during midday trading on Thursday, reaching $212.31. 3,734,360 shares of the company’s stock traded hands. Goldman Sachs Group has a 52-week low of $138.20 and a 52-week high of $213.41. The company’s 50-day moving average price is $184.04 and its 200-day moving average price is $165.50. The stock has a market cap of $88.92 billion, a P/E ratio of 17.04 and a beta of 1.55.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 18th. The investment management company reported $4.88 EPS for the quarter, topping the Zacks’ consensus estimate of $3.79 by $1.09. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.41 billion. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.51 EPS. On average, equities analysts predict that Goldman Sachs Group will post $15.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 1st will be paid a $0.65 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.22%. Goldman Sachs Group’s dividend payout ratio is presently 20.72%.
In other news, EVP Alan M. Cohen sold 5,000 shares of Goldman Sachs Group stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $181.19, for a total value of $905,950.00. Following the completion of the sale, the executive vice president now directly owns 61,444 shares in the company, valued at $11,133,038.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sarah G. Smith sold 218 shares of Goldman Sachs Group stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $211.47, for a total transaction of $46,100.46. Following the completion of the sale, the insider now owns 22,103 shares of the company’s stock, valued at $4,674,121.41. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in GS. South Dakota Investment Council raised its stake in shares of Goldman Sachs Group by 1.0% in the second quarter. South Dakota Investment Council now owns 147,870 shares of the investment management company’s stock worth $21,971,000 after buying an additional 1,500 shares in the last quarter. IFC Holdings Incorporated FL bought a new stake in shares of Goldman Sachs Group during the second quarter worth approximately $265,000. Harris Associates L P raised its stake in shares of Goldman Sachs Group by 6.3% in the second quarter. Harris Associates L P now owns 5,743,708 shares of the investment management company’s stock worth $853,400,000 after buying an additional 338,324 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Goldman Sachs Group by 9.2% in the third quarter. Foundry Partners LLC now owns 96,185 shares of the investment management company’s stock worth $15,512,000 after buying an additional 8,079 shares in the last quarter. Finally, Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Goldman Sachs Group during the second quarter valued at about $43,700,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.