Traders Buy Shares of Goldman Sachs Group, Inc. (The) (GS) on Weakness

Traders purchased shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) on weakness during trading hours on Friday. $117.26 million flowed into the stock on the tick-up and $88.27 million flowed out of the stock on the tick-down, for a money net flow of $28.99 million into the stock. Of all equities tracked, Goldman Sachs Group, Inc. (The) had the 26th highest net in-flow for the day. Goldman Sachs Group, Inc. (The) traded down ($0.64) for the day and closed at $240.15

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Goldman Sachs Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research note on Friday, October 20th. BidaskClub cut Goldman Sachs Group, Inc. (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Wells Fargo & Company assumed coverage on Goldman Sachs Group, Inc. (The) in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $265.00 price objective for the company. Berenberg Bank reiterated a “sell” rating and issued a $190.00 price objective on shares of Goldman Sachs Group, Inc. (The) in a research note on Friday, July 21st. Finally, Buckingham Research reiterated a “neutral” rating and issued a $250.00 price objective (up previously from $243.00) on shares of Goldman Sachs Group, Inc. (The) in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Goldman Sachs Group, Inc. (The) currently has an average rating of “Hold” and a consensus target price of $245.06.

The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market cap of $90,585.05, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.85. The company had revenue of $8.33 billion for the quarter, compared to analyst estimates of $7.59 billion. Goldman Sachs Group, Inc. (The) had a return on equity of 11.34% and a net margin of 26.42%. Goldman Sachs Group, Inc. (The)’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.88 earnings per share. analysts expect that Goldman Sachs Group, Inc. will post 19.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 29th. Goldman Sachs Group, Inc. (The)’s dividend payout ratio (DPR) is 15.63%.

In other news, insider Harvey M. Schwartz sold 25,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $245.00, for a total value of $6,125,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David A. Viniar sold 7,393 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $245.18, for a total value of $1,812,615.74. The disclosure for this sale can be found here. Insiders sold 37,344 shares of company stock worth $9,125,608 in the last three months. 2.57% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Quantbot Technologies LP lifted its position in shares of Goldman Sachs Group, Inc. (The) by 223.8% in the second quarter. Quantbot Technologies LP now owns 39,237 shares of the investment management company’s stock valued at $8,706,000 after acquiring an additional 27,121 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Goldman Sachs Group, Inc. (The) by 29.9% in the second quarter. Tudor Investment Corp ET AL now owns 20,480 shares of the investment management company’s stock valued at $4,545,000 after acquiring an additional 4,714 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Goldman Sachs Group, Inc. (The) by 23.8% in the second quarter. YorkBridge Wealth Partners LLC now owns 792 shares of the investment management company’s stock valued at $180,000 after acquiring an additional 152 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Goldman Sachs Group, Inc. (The) by 33.1% in the second quarter. Bank of Montreal Can now owns 392,464 shares of the investment management company’s stock valued at $87,090,000 after acquiring an additional 97,532 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Goldman Sachs Group, Inc. (The) in the second quarter valued at $42,536,000. Institutional investors and hedge funds own 73.14% of the company’s stock.

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About Goldman Sachs Group, Inc. (The)

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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