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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services. This segment also offers underwriting services, such as equity underwriting for common and preferred stock and convertible and exchangeable securities; and debt underwriting for various types of debt instruments, including investment-grade and high-yield debt, bank and bridge loans, and emerging-and growth-market debt, as well as originates structured securities. Its Global Markets segment is involved in client execution activities for cash and derivative instruments; credit and interest rate products; and provision of equity intermediation and equity financing, clearing, settlement, and custody services, as well as mortgages, currencies, commodities, and equities related products. The company's Asset Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies, and commodities; and provides customized investment advisory solutions, as well as invests in corporate, real estate, and infrastructure entities. Its Consumer & Wealth Management segment offers wealth advisory and banking services, including financial planning, investment management, deposit taking, and lending; private banking; and unsecured loans, as well as accepts saving and time deposits. The company was founded in 1869 and is headquartered in New York, New York.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Morgan Stanley lowered their price objective on The Goldman Sachs Group from $418.00 to $354.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 12th. Oppenheimer decreased their target price on The Goldman Sachs Group from $546.00 to $519.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 3rd. Piper Sandler decreased their target price on The Goldman Sachs Group from $430.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, July 1st. Citigroup decreased their target price on The Goldman Sachs Group from $400.00 to $360.00 in a research report on Tuesday, July 12th. Finally, Bank of America upgraded The Goldman Sachs Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $360.00 to $380.00 in a research report on Wednesday, June 29th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $413.92.
The Goldman Sachs Group Trading Up 0.6 %
Shares of GS traded up $2.14 during midday trading on Friday, reaching $353.82. The company had a trading volume of 2,369,177 shares, compared to its average volume of 2,606,764. The Goldman Sachs Group has a 1-year low of $277.84 and a 1-year high of $426.16. The stock has a market cap of $120.78 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.80 and a beta of 1.39. The firm has a 50 day simple moving average of $308.97 and a 200-day simple moving average of $323.78. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.34.
The Goldman Sachs Group (NYSE:GS - Get Rating) last issued its earnings results on Monday, July 18th. The investment management company reported $7.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.61 by $1.12. The Goldman Sachs Group had a return on equity of 15.89% and a net margin of 27.75%. The business had revenue of $11.86 billion during the quarter, compared to the consensus estimate of $10.70 billion. During the same period last year, the company earned $15.02 EPS. The company's revenue for the quarter was down 22.9% on a year-over-year basis. Research analysts forecast that The Goldman Sachs Group will post 34.33 EPS for the current fiscal year.
The Goldman Sachs Group Announces Dividend
The business also recently announced a dividend, which was paid on Wednesday, August 10th. Shareholders of record on Tuesday, July 26th were paid a $2.50 dividend. The ex-dividend date was Monday, July 25th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 18.09%.
Insider Transactions at The Goldman Sachs Group
In other news, Treasurer Philip R. Berlinski sold 8,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $348.62, for a total transaction of $2,788,960.00. Following the completion of the transaction, the treasurer now directly owns 13,745 shares in the company, valued at approximately $4,791,781.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Treasurer Philip R. Berlinski sold 8,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $348.62, for a total transaction of $2,788,960.00. Following the completion of the transaction, the treasurer now directly owns 13,745 shares in the company, valued at approximately $4,791,781.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Goldman Sachs Group Inc sold 451,401 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $20.48, for a total value of $9,244,692.48. Following the transaction, the director now owns 1,996,137 shares of the company's stock, valued at $40,880,885.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,328,622 shares of company stock worth $28,473,212. 0.57% of the stock is currently owned by company insiders.
