The Goldman Sachs Group, Inc. (NYSE:GS – Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 4,430,000 shares, a decline of 11.4% from the September 15th total of 5,000,000 shares. Based on an average daily volume of 2,050,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.4% of the shares of the company are sold short.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on GS shares. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Evercore ISI increased their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup increased their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $524.69.
Read Our Latest Stock Analysis on GS
The Goldman Sachs Group Stock Up 0.5 %
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the company earned $5.47 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that The Goldman Sachs Group will post 35.52 earnings per share for the current year.
The Goldman Sachs Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 46.86%.
Institutional Trading of The Goldman Sachs Group
Several institutional investors have recently modified their holdings of GS. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the first quarter valued at approximately $1,903,374,000. AMF Tjanstepension AB raised its position in The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after purchasing an additional 743,402 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in The Goldman Sachs Group by 7,932.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in The Goldman Sachs Group by 878.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after purchasing an additional 356,512 shares during the last quarter. Finally, Swedbank AB acquired a new position in The Goldman Sachs Group in the first quarter valued at $137,134,000. Hedge funds and other institutional investors 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.
See Also
- Five stocks we like better than The Goldman Sachs Group
- Why Invest in 5G? How to Invest in 5G Stocks
- Taiwan Semiconductor Soars on Earnings With More Room to Run
- Are Penny Stocks a Good Fit for Your Portfolio?
- Is Lucid Group Nearing the Bottom? What Investors Should Know
- What is the Australian Securities Exchange (ASX)
- 90% Gain Possible? Analysts Are Bullish on Joby Aviation
Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.