Investors Buy Large Volume of The Goldman Sachs Group Call Options (NYSE:GS)

Posted by Defense World Staff on Aug 30th, 2023

The Goldman Sachs Group, Inc. (NYSE:GS – Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors acquired 87,116 call options on the stock. This is an increase of approximately 156% compared to the average volume of 34,009 call options.

The Goldman Sachs Group Trading Up 2.0 %

Shares of GS opened at $332.50 on Wednesday. The company has a market capitalization of $109.62 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.27 and a beta of 1.39. The Goldman Sachs Group has a one year low of $287.75 and a one year high of $389.58. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average price of $333.27 and a 200 day moving average price of $333.84.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The investment management company reported $3.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.17). The Goldman Sachs Group had a net margin of 9.74% and a return on equity of 8.27%. The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.61 billion. During the same quarter in the previous year, the company earned $7.73 EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. Sell-side analysts forecast that The Goldman Sachs Group will post 25.74 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be paid a dividend of $2.75 per share. The ex-dividend date is Wednesday, August 30th. This represents a $11.00 annualized dividend and a yield of 3.31%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.50. The Goldman Sachs Group’s dividend payout ratio is presently 42.66%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 4,200 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $356.28, for a total transaction of $1,496,376.00. Following the transaction, the chief executive officer now owns 124,782 shares of the company’s stock, valued at $44,457,330.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In other The Goldman Sachs Group news, CEO David M. Solomon sold 4,200 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $356.28, for a total value of $1,496,376.00. Following the transaction, the chief executive officer now directly owns 124,782 shares in the company, valued at approximately $44,457,330.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 1,145,486 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $11.73, for a total value of $13,436,550.78. Following the completion of the transaction, the insider now owns 50,099,392 shares in the company, valued at $587,665,868.16. The disclosure for this sale can be found here. Insiders have sold a total of 10,159,686 shares of company stock valued at $123,960,027 over the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several institutional investors and hedge funds have recently bought and sold shares of GS. Tower View Investment Management & Research LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $27,000. Elequin Securities LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $32,000. Pacific Center for Financial Services acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $33,000. Worth Asset Management LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $33,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 69.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GS. UBS Group boosted their target price on The Goldman Sachs Group from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Oppenheimer cut their price target on The Goldman Sachs Group from $483.00 to $461.00 and set an “outperform” rating for the company in a report on Friday, August 18th. Credit Suisse Group reiterated an “outperform” rating and issued a $410.00 target price on shares of The Goldman Sachs Group in a research note on Thursday, July 20th. Odeon Capital Group upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $355.75 target price for the company in a research note on Thursday, July 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 price target on shares of The Goldman Sachs Group in a research report on Thursday, July 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $395.63.

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The Goldman Sachs Group Company Profile

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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.