Investors Buy Goldman Sachs Group (GS) on Weakness

Traders purchased shares of Goldman Sachs Group Inc (NYSE:GS) on weakness during trading on Wednesday. $682.90 million flowed into the stock on the tick-up and $547.17 million flowed out of the stock on the tick-down, for a money net flow of $135.73 million into the stock. Of all equities tracked, Goldman Sachs Group had the 3rd highest net in-flow for the day. Goldman Sachs Group traded down ($4.81) for the day and closed at $253.65

GS has been the topic of a number of recent research reports. Zacks Investment Research downgraded Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Instinet restated an “outperform” rating and issued a $225.00 target price (down previously from $238.00) on shares of Goldman Sachs Group in a research note on Thursday, January 4th. Vining Sparks restated a “hold” rating and issued a $270.00 target price on shares of Goldman Sachs Group in a research note on Monday, January 8th. Barclays boosted their target price on Goldman Sachs Group from $262.00 to $308.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Societe Generale set a $198.00 target price on Goldman Sachs Group and gave the company a “sell” rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $254.67.

The stock has a market capitalization of $95,190.00, a PE ratio of 29.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.47. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 17th. The investment management company reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.90 by $0.78. Goldman Sachs Group had a return on equity of 11.47% and a net margin of 13.36%. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the previous year, the firm earned $5.08 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. equities research analysts predict that Goldman Sachs Group Inc will post 21.4 EPS for the current year.

In related news, VP Gregory K. Palm sold 4,620 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.99, for a total transaction of $1,104,133.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Solomon sold 2,400 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $238.49, for a total value of $572,376.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,833 shares of company stock valued at $23,309,552 in the last three months. 2.57% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Goldman Sachs Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 24,072,777 shares of the investment management company’s stock valued at $5,341,749,000 after acquiring an additional 304,400 shares in the last quarter. Capital World Investors grew its stake in shares of Goldman Sachs Group by 10.5% in the 2nd quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock valued at $1,697,442,000 after purchasing an additional 726,582 shares during the period. Capital Research Global Investors grew its stake in shares of Goldman Sachs Group by 4.0% in the 2nd quarter. Capital Research Global Investors now owns 6,918,409 shares of the investment management company’s stock valued at $1,535,195,000 after purchasing an additional 265,784 shares during the period. Greenhaven Associates Inc. grew its stake in shares of Goldman Sachs Group by 2.5% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,793,287 shares of the investment management company’s stock valued at $841,730,000 after purchasing an additional 91,200 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Goldman Sachs Group by 10.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,618,896 shares of the investment management company’s stock valued at $858,366,000 after purchasing an additional 356,956 shares during the period. 73.28% of the stock is owned by hedge funds and other institutional investors.

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Goldman Sachs Group Company Profile

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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