The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) – Stock analysts at Zacks Research reduced their Q2 2023 EPS estimates for shares of The Goldman Sachs Group in a research report issued on Tuesday, June 20th. Zacks Research analyst D. Chamria now expects that the investment management company will post earnings per share of $7.25 for the quarter, down from their previous estimate of $7.43. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $31.57 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q3 2023 earnings at $7.12 EPS, Q4 2023 earnings at $6.65 EPS, FY2023 earnings at $29.81 EPS, Q1 2024 earnings at $8.58 EPS, Q2 2024 earnings at $8.72 EPS, Q3 2024 earnings at $9.45 EPS, Q4 2024 earnings at $9.51 EPS and FY2024 earnings at $36.25 EPS.
Several other brokerages have also issued reports on GS. JMP Securities raised their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Morgan Stanley raised their price target on shares of The Goldman Sachs Group from $329.00 to $337.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Credit Suisse Group restated an “outperform” rating and set a $410.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, April 11th. Wells Fargo & Company reduced their price objective on shares of The Goldman Sachs Group from $420.00 to $390.00 and set an “overweight” rating for the company in a research note on Monday, April 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $390.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $389.17.
The Goldman Sachs Group Trading Down 1.5 %
The Goldman Sachs Group (NYSE:GS – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The investment management company reported $8.79 EPS for the quarter, beating the consensus estimate of $8.14 by $0.65. The Goldman Sachs Group had a net margin of 13.23% and a return on equity of 9.84%. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $12.66 billion. During the same quarter last year, the business posted $10.76 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis.
Institutional Trading of The Goldman Sachs Group
Hedge funds have recently added to or reduced their stakes in the business. Transamerica Financial Advisors Inc. lifted its stake in The Goldman Sachs Group by 727.3% in the third quarter. Transamerica Financial Advisors Inc. now owns 91 shares of the investment management company’s stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Tower View Investment Management & Research LLC bought a new stake in The Goldman Sachs Group in the fourth quarter worth $27,000. Larson Financial Group LLC increased its position in shares of The Goldman Sachs Group by 224.0% in the fourth quarter. Larson Financial Group LLC now owns 81 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 56 shares during the period. Sound Income Strategies LLC increased its position in shares of The Goldman Sachs Group by 109.3% in the fourth quarter. Sound Income Strategies LLC now owns 90 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 47 shares during the period. Finally, Accurate Wealth Management LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at about $31,000. 76.90% of the stock is owned by institutional investors.
Insider Transactions at The Goldman Sachs Group
In other news, major shareholder Goldman Sachs Group Inc sold 24,819,473 shares of The Goldman Sachs Group stock in a transaction on Monday, May 8th. The shares were sold at an average price of $21.61, for a total transaction of $536,348,811.53. Following the completion of the sale, the insider now directly owns 110,337 shares of the company’s stock, valued at approximately $2,384,382.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 24,819,473 shares of The Goldman Sachs Group stock in a transaction on Monday, May 8th. The shares were sold at an average price of $21.61, for a total transaction of $536,348,811.53. Following the completion of the sale, the insider now directly owns 110,337 shares of the company’s stock, valued at approximately $2,384,382.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Philip R. Berlinski sold 3,750 shares of The Goldman Sachs Group stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $338.10, for a total transaction of $1,267,875.00. Following the sale, the treasurer now directly owns 21,366 shares of the company’s stock, valued at $7,223,844.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,833,500 shares of company stock valued at $646,620,506. Insiders own 0.54% of the company’s stock.
The Goldman Sachs Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 1st will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Wednesday, May 31st. The Goldman Sachs Group’s dividend payout ratio is currently 35.60%.
The Goldman Sachs Group Company Profile
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 resale agreements.
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