Traders Buy Goldman Sachs Group (GS) on Weakness

Investors bought shares of Goldman Sachs Group Inc (NYSE:GS) on weakness during trading hours on Monday. $354.88 million flowed into the stock on the tick-up and $314.62 million flowed out of the stock on the tick-down, for a money net flow of $40.26 million into the stock. Of all companies tracked, Goldman Sachs Group had the 22nd highest net in-flow for the day. Goldman Sachs Group traded down ($7.93) for the day and closed at $199.91

A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. HSBC set a $202.00 price objective on shares of Goldman Sachs Group and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Bank of America reissued a “hold” rating and issued a $212.00 price objective on shares of Goldman Sachs Group in a research report on Monday. ValuEngine lowered shares of Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a research report on Friday, March 1st. Finally, TheStreet raised shares of Goldman Sachs Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $250.08.

The stock has a market cap of $74.39 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 1.31 and a beta of 1.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.84.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 15th. The investment management company reported $5.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.89 by $0.82. The company had revenue of $8.81 billion for the quarter, compared to analyst estimates of $8.89 billion. Goldman Sachs Group had a net margin of 28.92% and a return on equity of 13.84%. The company’s revenue was down 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.95 earnings per share. On average, equities analysts anticipate that Goldman Sachs Group Inc will post 23.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.70%. Goldman Sachs Group’s dividend payout ratio is presently 12.66%.

In other news, EVP Dane E. Holmes sold 1,489 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $198.31, for a total value of $295,283.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.41% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Goldman Sachs Group by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 3,316,799 shares of the investment management company’s stock valued at $743,759,000 after acquiring an additional 53,563 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in shares of Goldman Sachs Group in the third quarter valued at about $292,000. Rockshelter Capital Management LLC grew its stake in shares of Goldman Sachs Group by 3.6% in the third quarter. Rockshelter Capital Management LLC now owns 32,376 shares of the investment management company’s stock valued at $7,260,000 after acquiring an additional 1,134 shares in the last quarter. Mutual Advisors LLC grew its stake in shares of Goldman Sachs Group by 50.0% in the third quarter. Mutual Advisors LLC now owns 6,056 shares of the investment management company’s stock valued at $1,358,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Goldman Sachs Group by 124.9% in the third quarter. Brown Brothers Harriman & Co. now owns 6,442 shares of the investment management company’s stock valued at $1,445,000 after acquiring an additional 3,578 shares in the last quarter. 70.11% of the stock is currently owned by institutional investors.

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About Goldman Sachs Group (NYSE:GS)

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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