Keefe, Bruyette & Woods reissued their hold rating on shares of Goldman Sachs (NYSE:GS) in a research note published on Wednesday.
Several other equities research analysts have also recently issued reports on GS. BMO Capital Markets reissued a hold rating and issued a $245.00 price objective (up from $221.00) on shares of Goldman Sachs in a research report on Wednesday. Oppenheimer upped their price target on shares of Goldman Sachs from $280.00 to $308.00 and gave the stock an outperform rating in a research report on Wednesday. Buckingham Research upped their price target on shares of Goldman Sachs from $285.00 to $292.00 and gave the stock a neutral rating in a research report on Tuesday. Sanford C. Bernstein initiated coverage on shares of Goldman Sachs in a research report on Monday, April 9th. They issued an outperform rating and a $300.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a neutral rating and issued a $265.00 price target on shares of Goldman Sachs in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Goldman Sachs has an average rating of Hold and an average price target of $266.29.
Goldman Sachs stock opened at $254.00 on Wednesday. The stock has a market capitalization of $96,350.74, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.02 and a beta of 1.37. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.92 and a quick ratio of 0.93. Goldman Sachs has a 1 year low of $209.62 and a 1 year high of $275.31.
Goldman Sachs (NYSE:GS) last released its quarterly earnings data on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.58 by $1.37. The company had revenue of $10.04 billion during the quarter, compared to analysts’ expectations of $8.73 billion. Goldman Sachs had a net margin of 14.27% and a return on equity of 12.10%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.15 EPS. research analysts expect that Goldman Sachs will post 21.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Thursday, May 31st will be given a dividend of $0.80 per share. This is a boost from Goldman Sachs’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, May 30th. This represents a $3.20 dividend on an annualized basis and a yield of 1.26%. Goldman Sachs’s dividend payout ratio is presently 15.18%.
In related news, EVP John F.W. Rogers sold 4,400 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $265.37, for a total transaction of $1,167,628.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Solomon sold 21,252 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $271.65, for a total transaction of $5,773,105.80. The disclosure for this sale can be found here. Insiders have sold 66,048 shares of company stock valued at $17,668,347 in the last three months. 2.57% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its stake in Goldman Sachs by 33.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 11,069 shares of the investment management company’s stock valued at $2,820,000 after purchasing an additional 2,773 shares in the last quarter. Colonial Trust Advisors increased its stake in Goldman Sachs by 34.8% during the 4th quarter. Colonial Trust Advisors now owns 24,448 shares of the investment management company’s stock valued at $6,228,000 after purchasing an additional 6,308 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in Goldman Sachs by 4.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 65,142 shares of the investment management company’s stock valued at $16,596,000 after purchasing an additional 2,626 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Goldman Sachs by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 51,515 shares of the investment management company’s stock valued at $13,125,000 after purchasing an additional 1,654 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Goldman Sachs by 12.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 159,815 shares of the investment management company’s stock valued at $40,714,000 after purchasing an additional 18,293 shares in the last quarter. Institutional investors and hedge funds own 73.21% of the company’s stock.
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Goldman Sachs 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.
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