The Goldman Sachs Group (NYSE:GS) Issues Earnings Results, Beats Estimates By $3.04 EPS

The Goldman Sachs Group (NYSE:GS) posted its earnings results on Monday. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04, RTT News reports. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the previous year, the business earned $8.79 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis.

The Goldman Sachs Group Stock Up 1.8 %

GS opened at $403.91 on Thursday. The company has a market cap of $131.08 billion, a PE ratio of 15.77, a P/E/G ratio of 1.54 and a beta of 1.43. The business has a 50 day moving average price of $395.67 and a two-hundred day moving average price of $365.35. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group Dividend Announcement

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 paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a research note on Tuesday. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research report on Tuesday. Bank of America upped their price objective on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays upped their price objective on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Edward Jones assumed coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $434.93.

Insider Transactions at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares in the company, valued at approximately $4,357,659.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the sale, the insider now owns 6,501 shares in the company, valued at approximately $2,469,144.81. The disclosure for this sale can be found here. In the last three months, insiders sold 35,907 shares of company stock valued at $13,950,851. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. First United Bank & Trust acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $26,000. Pineridge Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $29,000. BKM Wealth Management LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $32,000. Finally, Cambridge Trust Co. lifted its stake in shares of The Goldman Sachs Group by 82.0% during the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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 financing under securities to resale agreements.