Goldman Sachs Group (GS) Receives Outperform Rating from Instinet

Instinet reiterated their outperform rating on shares of Goldman Sachs Group (NYSE:GS) in a report published on Thursday morning. Instinet currently has a $225.00 price target on the investment management company’s stock, down from their previous price target of $238.00.

Several other equities analysts also recently commented on GS. TheStreet downgraded Goldman Sachs Group from a b rating to a c+ rating in a report on Thursday, September 7th. JMP Securities reiterated a market perform rating on shares of Goldman Sachs Group in a report on Wednesday, September 13th. JPMorgan Chase & Co. set a $260.00 price target on Goldman Sachs Group and gave the company a buy rating in a report on Friday, September 15th. Zacks Investment Research downgraded Goldman Sachs Group from a hold rating to a sell rating in a report on Thursday, September 21st. Finally, BMO Capital Markets reiterated a hold rating and set a $202.00 price target on shares of Goldman Sachs Group in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $251.90.

Shares of Goldman Sachs Group (NYSE:GS) traded down $3.71 during mid-day trading on Thursday, reaching $251.81. The company’s stock had a trading volume of 2,939,930 shares, compared to its average volume of 2,780,000. Goldman Sachs Group has a one year low of $209.62 and a one year high of $262.14. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $94,980.00, a P/E ratio of 13.08, a PEG ratio of 1.02 and a beta of 1.47.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.02 EPS for the quarter, beating the consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The company had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same quarter last year, the company posted $4.88 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. sell-side analysts expect that Goldman Sachs Group will post 19.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.19%. Goldman Sachs Group’s payout ratio is 15.58%.

In other Goldman Sachs Group news, Director David A. Viniar sold 7,393 shares of Goldman Sachs Group stock in a transaction on Friday, October 20th. The shares were sold at an average price of $245.18, for a total transaction of $1,812,615.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David M. Solomon sold 2,400 shares of Goldman Sachs Group stock in a transaction on Monday, November 13th. The stock was sold at an average price of $238.49, for a total transaction of $572,376.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,177 shares of company stock worth $32,435,160. 2.57% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Goldman Sachs Group during the second quarter valued at $101,000. Sterling Investment Advisors Ltd. lifted its holdings in shares of Goldman Sachs Group by 35.7% during the second quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock valued at $105,000 after acquiring an additional 125 shares during the period. Shine Investment Advisory Services Inc. bought a new position in shares of Goldman Sachs Group during the second quarter valued at $111,000. Gs Investments Inc. bought a new position in shares of Goldman Sachs Group during the second quarter valued at $111,000. Finally, First Personal Financial Services lifted its holdings in shares of Goldman Sachs Group by 230.2% during the second quarter. First Personal Financial Services now owns 525 shares of the investment management company’s stock valued at $116,000 after acquiring an additional 366 shares during the period. Hedge funds and other institutional investors own 73.27% of the company’s stock.

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About Goldman Sachs Group

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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