The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) – Equities researchers at Seaport Res Ptn cut their Q3 2023 earnings estimates for The Goldman Sachs Group in a research note issued to investors on Thursday, January 5th. Seaport Res Ptn analyst J. Mitchell now expects that the investment management company will post earnings of $10.21 per share for the quarter, down from their prior estimate of $10.43. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $33.16 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s FY2024 earnings at $45.25 EPS.
The Goldman Sachs Group (NYSE:GS – Get Rating) last issued its earnings results on Tuesday, October 18th. The investment management company reported $8.25 earnings per share for the quarter, topping analysts’ consensus estimates of $7.47 by $0.78. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.53 billion. The Goldman Sachs Group had a net margin of 22.50{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 13.23{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The firm’s revenue for the quarter was down 12.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on a year-over-year basis. During the same period in the previous year, the company earned $14.93 earnings per share.
GS has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $385.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 6th. Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $341.00 to $384.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 6th. JMP Securities boosted their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 11th. BMO Capital Markets reduced their target price on shares of The Goldman Sachs Group from $470.00 to $469.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Finally, Keefe, Bruyette & Woods raised shares of The Goldman Sachs Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $395.00 to $429.00 in a research report on Thursday, October 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $408.13.
The Goldman Sachs Group Trading Down 1.1 {21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
GS stock opened at $343.76 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.84 and a quick ratio of 0.84. The company has a fifty day moving average price of $362.37 and a two-hundred day moving average price of $333.69. The Goldman Sachs Group has a one year low of $277.84 and a one year high of $404.37. The stock has a market cap of $116.41 billion, a price-to-earnings ratio of 9.15 and a beta of 1.41.
The Goldman Sachs Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Stockholders of record on Thursday, December 1st were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.91{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The ex-dividend date of this dividend was Wednesday, November 30th. The Goldman Sachs Group’s dividend payout ratio is currently 26.63{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
Insider Activity
In related news, major shareholder Goldman Sachs Group Inc sold 3,186,888 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $22.56, for a total value of $71,896,193.28. Following the sale, the insider now directly owns 24,826,071 shares in the company, valued at $560,076,161.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Goldman Sachs Group Inc sold 3,186,888 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $22.56, for a total value of $71,896,193.28. Following the sale, the insider now directly owns 24,826,071 shares in the company, valued at $560,076,161.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $385.84, for a total value of $3,858,400.00. Following the completion of the sale, the insider now owns 13,656 shares in the company, valued at $5,269,031.04. The disclosure for this sale can be found here. Insiders sold 4,847,711 shares of company stock valued at $117,408,700 over the last quarter. 0.57{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by company insiders.
Hedge Funds Weigh In On The Goldman Sachs Group
Institutional investors and hedge funds have recently modified their holdings of the business. Centerpoint Advisors LLC bought a new position in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $26,000. Transamerica Financial Advisors Inc. lifted its holdings in shares of The Goldman Sachs Group by 727.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd 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 in the last quarter. NewSquare Capital LLC bought a new position in shares of The Goldman Sachs Group in the 3rd quarter worth $29,000. Paragon Wealth Strategies LLC bought a new position in shares of The Goldman Sachs Group in the 3rd quarter worth $31,000. Finally, Norway Savings Bank lifted its holdings in shares of The Goldman Sachs Group by 87.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. Norway Savings Bank now owns 107 shares of the investment management company’s stock worth $32,000 after purchasing an additional 50 shares in the last quarter. 69.09{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is currently owned by institutional investors.
About The Goldman Sachs Group
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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.
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