The Goldman Sachs Group (NYSE:GS) Announces Quarterly Earnings Results, Beats Expectations By $1.98 EPS

Key Points

• The Goldman Sachs Group reported $12.25 earnings per share, exceeding the consensus estimate of $10.27 by $1.98, highlighting strong financial performance in the latest quarter.
• Insiders sold 38,323 shares worth approximately $28 million in the last quarter, suggesting potential changes in their investment positions within the company.
• Institutional investors own 71.21% of the company’s stock, indicating significant confidence and interest from large financial entities in Goldman Sachs.

The Goldman Sachs Group (NYSE:GS - Get Free Report) issued its quarterly earnings data on Tuesday. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98, Zacks reports. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. During the same period in the prior year, the firm posted $8.40 EPS.

The Goldman Sachs Group Trading Up 3.2%

Shares of The Goldman Sachs Group stock opened at $788.52 on Tuesday. The stock has a market capitalization of $238.70 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a 50-day simple moving average of $762.04 and a 200 day simple moving average of $665.38. The Goldman Sachs Group has a 12-month low of $439.38 and a 12-month high of $825.25.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company's stock, valued at $79,755,196.68. This represents a 7.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 in the last quarter. Insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC boosted its stake in shares of The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of The Goldman Sachs Group by 90.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company's stock valued at $1,098,000 after purchasing an additional 735 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Keel Point LLC boosted its stake in shares of The Goldman Sachs Group by 7.8% in the 2nd quarter. Keel Point LLC now owns 994 shares of the investment management company's stock valued at $704,000 after purchasing an additional 72 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $642,000. Institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GS. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Royal Bank Of Canada upped their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Finally, JMP Securities reissued a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $746.69.

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.

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