Seaport Res Ptn Lowers The Goldman Sachs Group (NYSE:GS) to Hold

Seaport Res Ptn lowered shares of The Goldman Sachs Group (NYSE:GS) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q2 2024 earnings at $8.51 EPS, Q3 2024 earnings at $8.47 EPS, Q4 2024 earnings at $7.61 EPS, FY2024 earnings at $36.20 EPS, Q1 2025 earnings at $11.56 EPS, Q2 2025 earnings at $9.67 EPS, Q3 2025 earnings at $9.68 EPS, Q4 2025 earnings at $8.60 EPS and FY2025 earnings at $39.50 EPS.

GS has been the subject of several other reports. HSBC raised their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Citigroup raised their price target on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Bank of America raised their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Royal Bank of Canada raised their price target on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a sector perform rating in a report on Tuesday, April 16th. Finally, JMP Securities raised their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a market outperform rating in a report on Tuesday, April 9th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $445.62.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $467.92 on Tuesday. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $471.48. The company has a 50-day moving average of $452.52 and a two-hundred day moving average of $412.68. The stock has a market cap of $150.89 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 0.94 and a beta of 1.37. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The company had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. During the same period last year, the company posted $8.79 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities research analysts expect that The Goldman Sachs Group will post 36.52 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 42.95%.

Insider Buying and Selling

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the sale, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently bought and sold shares of the business. First Personal Financial Services bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $25,000. Versant Capital Management Inc boosted its stake in shares of The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares in the last quarter. First United Bank & Trust acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $26,000. Pineridge Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $33,000. Institutional investors own 71.21% of the company’s stock.

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 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.