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 analysts have recently weighed in on the company. Bank of America upgraded The Goldman Sachs Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $360.00 to $380.00 in a report on Wednesday, June 29th. Credit Suisse Group set a $415.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 19th. Oppenheimer cut their price target on shares of The Goldman Sachs Group from $546.00 to $519.00 and set an "overweight" rating on the stock in a report on Tuesday, May 3rd. Citigroup decreased their price objective on shares of The Goldman Sachs Group from $400.00 to $360.00 in a report on Tuesday, July 12th. Finally, Barclays cut their target price on The Goldman Sachs Group from $505.00 to $450.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 19th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $413.92.
The Goldman Sachs Group Stock Performance
Shares of NYSE:GS traded down $5.25 during midday trading on Friday, hitting $349.27. 1,434,710 shares of the company's stock traded hands, compared to its average volume of 2,876,487. The firm has a fifty day moving average of $312.13 and a 200 day moving average of $324.01. The Goldman Sachs Group has a 1 year low of $277.84 and a 1 year high of $426.16. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $119.23 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.
The Goldman Sachs Group (NYSE:GS - Get Rating) last announced its earnings results on Monday, July 18th. The investment management company reported $7.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.61 by $1.12. The company had revenue of $11.86 billion during the quarter, compared to analyst estimates of $10.70 billion. The Goldman Sachs Group had a net margin of 27.75% and a return on equity of 15.89%. The firm's quarterly revenue was down 22.9% compared to the same quarter last year. During the same period in the previous year, the business posted $15.02 earnings per share. On average, analysts forecast that The Goldman Sachs Group will post 34.33 earnings per share for the current year.
The Goldman Sachs Group Announces Dividend
The business also recently announced a dividend, which was paid on Wednesday, August 10th. Investors of record on Tuesday, July 26th were given a dividend of $2.50 per share. The ex-dividend date was Monday, July 25th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 18.09%.
Insider Activity at The Goldman Sachs Group
In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $348.62, for a total transaction of $2,788,960.00. Following the sale, the treasurer now 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 available through this hyperlink. In other The Goldman Sachs Group 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 value of $2,788,960.00. Following the completion of the sale, the treasurer now owns 13,745 shares in the company, valued at approximately $4,791,781.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Goldman Sachs Group Inc sold 437,248 shares of the business's stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $19.39, for a total value of $8,478,238.72. Following the completion of the transaction, the director now owns 2,731,973 shares in the company, valued at $52,972,956.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,282,442 shares of company stock worth $28,880,922. Corporate insiders own 0.57% of the company's stock.
