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 weighed in on GS shares. Morgan Stanley cut their price target on The Goldman Sachs Group from $418.00 to $354.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 12th. Citigroup cut their price target on The Goldman Sachs Group from $400.00 to $360.00 in a report on Tuesday, July 12th. Piper Sandler cut their price target on The Goldman Sachs Group from $430.00 to $410.00 and set an "overweight" rating on the stock in a report on Friday, July 1st. Bank of America upgraded The Goldman Sachs Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $360.00 to $380.00 in a report on Wednesday, June 29th. Finally, Wells Fargo & Company dropped their price objective on The Goldman Sachs Group from $420.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, July 1st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Moderate Buy" and a consensus price target of $413.92.
The Goldman Sachs Group Trading Up 0.6 %
NYSE:GS opened at $336.62 on Wednesday. The Goldman Sachs Group has a 52-week low of $277.84 and a 52-week high of $426.16. The stock's 50 day moving average price is $307.20 and its 200 day moving average price is $323.47. 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 company has a market capitalization of $114.91 billion, a PE ratio of 7.61, a P/E/G ratio of 0.76 and a beta of 1.39.
The Goldman Sachs Group (NYSE:GS - Get Rating) last issued its quarterly earnings data on Monday, July 18th. The investment management company reported $7.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.61 by $1.12. The firm had revenue of $11.86 billion during the quarter, compared to analysts' expectations of $10.70 billion. The Goldman Sachs Group had a return on equity of 15.89% and a net margin of 27.75%. The Goldman Sachs Group's revenue was down 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $15.02 earnings per share. On average, research analysts anticipate that The Goldman Sachs Group will post 34.48 EPS for the current year.
The Goldman Sachs Group Announces Dividend
The firm also recently disclosed a dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Tuesday, July 26th will be given a $2.50 dividend. The ex-dividend date of this dividend is Monday, July 25th. The Goldman Sachs Group's dividend payout ratio is currently 18.09%.
Insider Activity
In other news, Director Goldman Sachs Group Inc sold 13,818 shares of The Goldman Sachs Group stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $19.18, for a total value of $265,029.24. Following the completion of the sale, the director now owns 2,910,205 shares of the company's stock, valued at $55,817,731.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 1,320,622 shares of company stock valued at $25,684,252 over the last quarter. Company insiders own 0.57% of the company's stock.
