The Goldman Sachs Group (NYSE:GS) Posts Earnings Results, Beats Expectations By $3.04 EPS

The Goldman Sachs Group (NYSE:GS) posted its quarterly earnings data on Monday. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04, RTT News reports. The firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company posted $8.79 EPS.

The Goldman Sachs Group Stock Up 1.8 %

GS stock opened at $403.91 on Thursday. The stock has a market capitalization of $131.08 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $419.20. The firm has a 50-day moving average price of $395.67 and a 200-day moving average price of $365.35.

The Goldman Sachs Group Dividend Announcement

The business also recently announced 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. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.72%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 42.95%.

Analyst Ratings Changes

Several equities research analysts have weighed in on GS shares. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Tuesday. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. HSBC lifted their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, UBS Group lifted their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $434.93.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the transaction, the treasurer now owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value 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 approximately $11,602,947.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,907 shares of company stock valued at $13,950,851. 0.54% of the stock is currently owned by insiders.

Institutional Trading of The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in The Goldman Sachs Group by 13.7% during 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 acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $989,000. TBH Global Asset Management LLC increased its position in The Goldman Sachs Group by 2.0% during 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 increased its position in The Goldman Sachs Group by 27,076.5% during 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 purchasing an additional 650,918 shares during the period. Finally, Syon Capital LLC acquired a new stake in The Goldman Sachs Group during the 3rd quarter valued at approximately $1,395,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

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.