Seaport Res Ptn Weighs in on The Goldman Sachs Group, Inc.'s Q3 2024 Earnings (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) - Investment analysts at Seaport Res Ptn cut their Q3 2024 earnings per share (EPS) estimates for The Goldman Sachs Group in a report issued on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will post earnings per share of $8.49 for the quarter, down from their prior forecast of $8.73. The consensus estimate for The Goldman Sachs Group's current full-year earnings is $32.76 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group's Q2 2025 earnings at $9.77 EPS and FY2025 earnings at $39.20 EPS.

A number of other research analysts have also recently issued reports on GS. Bank of America lifted their target price on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a "buy" rating in a research note on Tuesday. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an "outperform" rating in a research report on Tuesday. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Argus upgraded shares of 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. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $434.93.

The Goldman Sachs Group Price Performance

GS traded up $7.05 during midday trading on Wednesday, reaching $403.91. 4,363,021 shares of the company's stock were exchanged, compared to its average volume of 2,364,584. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $419.20. The business has a 50-day simple moving average of $395.67 and a two-hundred day simple moving average of $365.35. 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 firm has a market capitalization of $131.08 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts' consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $8.79 earnings per share.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of The Goldman Sachs Group by 13.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company's stock valued at $64,291,000 after purchasing an additional 20,018 shares during the period. Trueblood Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $989,000. TBH Global Asset Management LLC raised its holdings in shares of The Goldman Sachs Group by 2.0% in the 3rd quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company's stock valued at $1,190,000 after purchasing an additional 72 shares during the period. Congress Wealth Management LLC DE raised its holdings in The Goldman Sachs Group by 27,076.5% in the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company's stock valued at $211,396,000 after acquiring an additional 650,918 shares during the period. Finally, Syon Capital LLC bought a new position in The Goldman Sachs Group in the 3rd quarter valued at about $1,395,000. 71.21% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the business's stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the transaction, the insider now 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 Securities & Exchange Commission, which is available through this link. In related news, insider Kathryn H. Ruemmler sold 7,277 shares of the company's stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value 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 available through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company's stock, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders sold 35,907 shares of company stock valued at $13,950,851 in the last quarter. Company insiders own 0.57% of the company's stock.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is 42.95%.

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.