Goldman Sachs Group (GS) Issues Quarterly Earnings Results

Goldman Sachs Group (NYSE:GS) announced its quarterly earnings results on Monday, April 15th. The investment management company reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.97, MarketWatch Earnings reports. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $8.89 billion. Goldman Sachs Group had a return on equity of 12.35% and a net margin of 25.13%. Goldman Sachs Group’s revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.95 EPS.

Shares of GS opened at $202.63 on Wednesday. Goldman Sachs Group has a fifty-two week low of $151.70 and a fifty-two week high of $245.88. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.92 and a current ratio of 0.86. The stock has a market capitalization of $76.11 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, May 29th. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s payout ratio is presently 12.66%.

A number of analysts recently weighed in on GS shares. TheStreet raised shares of Goldman Sachs Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 5th. Wells Fargo & Co reissued a “buy” rating and set a $250.00 target price (up previously from $235.00) on shares of Goldman Sachs Group in a report on Wednesday, January 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Goldman Sachs Group in a report on Tuesday, April 16th. Morgan Stanley decreased their target price on shares of Goldman Sachs Group from $226.00 to $207.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. Finally, Zacks Investment Research raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Goldman Sachs Group currently has an average rating of “Hold” and an average target price of $239.91.

In related news, EVP Dane E. Holmes sold 1,489 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $198.31, for a total value of $295,283.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Goldman Sachs Group by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 3,316,799 shares of the investment management company’s stock worth $743,759,000 after purchasing an additional 53,563 shares during the period. Vident Investment Advisory LLC acquired a new position in shares of Goldman Sachs Group during the 3rd quarter worth $292,000. Rockshelter Capital Management LLC raised its holdings in shares of Goldman Sachs Group by 3.6% during the 3rd quarter. Rockshelter Capital Management LLC now owns 32,376 shares of the investment management company’s stock worth $7,260,000 after buying an additional 1,134 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Goldman Sachs Group by 50.0% during the 3rd quarter. Mutual Advisors LLC now owns 6,056 shares of the investment management company’s stock worth $1,358,000 after buying an additional 2,019 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Goldman Sachs Group by 124.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,442 shares of the investment management company’s stock worth $1,445,000 after purchasing an additional 3,578 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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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Earnings History for Goldman Sachs Group (NYSE:GS)

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