Investors Buy Shares of Goldman Sachs Group (GS) on Weakness

Traders bought shares of Goldman Sachs Group Inc (NYSE:GS) on weakness during trading on Wednesday. $168.04 million flowed into the stock on the tick-up and $131.55 million flowed out of the stock on the tick-down, for a money net flow of $36.49 million into the stock. Of all equities tracked, Goldman Sachs Group had the 22nd highest net in-flow for the day. Goldman Sachs Group traded down ($2.38) for the day and closed at $245.95

GS has been the topic of a number of research reports. Credit Suisse Group cut Goldman Sachs Group from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $240.00 to $255.00 in a research note on Monday, October 9th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “hold” rating and set a $240.00 price objective on shares of Goldman Sachs Group in a report on Thursday, August 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $240.00 target price on shares of Goldman Sachs Group in a research note on Thursday, October 19th. BMO Capital Markets raised their price objective on shares of Goldman Sachs Group from $202.00 to $217.00 and gave the company a “market perform” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research cut shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $246.10.

The firm has a market capitalization of $92,772.71, a P/E ratio of 12.81, a PEG ratio of 1.25 and a beta of 1.47. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 15.63%.

In other Goldman Sachs Group news, insider Harvey M. Schwartz sold 25,000 shares of Goldman Sachs Group stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $245.00, for a total value of $6,125,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of Goldman Sachs Group stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $238.38, for a total transaction of $4,956,873.72. The disclosure for this sale can be found here. Insiders sold a total of 135,177 shares of company stock valued at $32,435,160 in the last 90 days. Corporate insiders own 2.57% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. NorthCoast Asset Management LLC lifted its stake in Goldman Sachs Group by 729.6% during the 1st quarter. NorthCoast Asset Management LLC now owns 75,930 shares of the investment management company’s stock valued at $17,443,000 after acquiring an additional 66,777 shares in the last quarter. Parallel Advisors LLC increased its holdings in Goldman Sachs Group by 10.7% in the 1st quarter. Parallel Advisors LLC now owns 558 shares of the investment management company’s stock worth $126,000 after acquiring an additional 54 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Goldman Sachs Group by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,440,198 shares of the investment management company’s stock worth $560,573,000 after acquiring an additional 87,995 shares during the last quarter. Aureus Asset Management LLC increased its holdings in Goldman Sachs Group by 13.6% in the 1st quarter. Aureus Asset Management LLC now owns 1,252 shares of the investment management company’s stock worth $281,000 after acquiring an additional 150 shares during the last quarter. Finally, Northside Capital Management LLC increased its holdings in Goldman Sachs Group by 132.0% in the 1st quarter. Northside Capital Management LLC now owns 6,855 shares of the investment management company’s stock worth $1,575,000 after acquiring an additional 3,900 shares during the last quarter. 73.35% of the stock is owned by institutional investors.

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Goldman Sachs Group Company Profile

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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