The Goldman Sachs Group, Inc. (NYSE:GS – Get Free Report) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,610,000 shares, an increase of 5.6% from the October 15th total of 3,420,000 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,930,000 shares, the days-to-cover ratio is presently 1.9 days.
In other news, major shareholder Goldman Sachs Group Inc sold 72,874 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $0.71, for a total transaction of $51,740.54. Following the sale, the insider now owns 397,954 shares in the company, valued at $282,547.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.
Institutional Investors Weigh In On The Goldman Sachs Group
A number of institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $66,000. Candriam Luxembourg S.C.A. increased its position in The Goldman Sachs Group by 1,505.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after purchasing an additional 38,727 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of The Goldman Sachs Group by 18.5% during the 1st quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after purchasing an additional 18,540 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of The Goldman Sachs Group by 79.4% during the 1st quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock valued at $273,000 after buying an additional 366 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of The Goldman Sachs Group by 118.3% in the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock valued at $102,000 after buying an additional 168 shares in the last quarter. 69.06% of the stock is currently owned by institutional investors and hedge funds.
The Goldman Sachs Group Price Performance
The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its earnings results on Tuesday, October 17th. The investment management company reported $5.47 EPS for the quarter, beating the consensus estimate of $5.42 by $0.05. The business had revenue of $11.82 billion during the quarter, compared to the consensus estimate of $11.15 billion. The Goldman Sachs Group had a return on equity of 7.37% and a net margin of 7.77%. The Goldman Sachs Group’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $8.25 earnings per share. Sell-side analysts expect that The Goldman Sachs Group will post 22.98 EPS for the current fiscal year.
The Goldman Sachs Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be given a $2.75 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $11.00 annualized dividend and a dividend yield of 3.24%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 53.24%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of The Goldman Sachs Group in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $410.00 price target on shares of The Goldman Sachs Group in a report on Thursday, July 20th. UBS Group raised their price objective on The Goldman Sachs Group from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. BMO Capital Markets boosted their target price on shares of The Goldman Sachs Group from $407.00 to $411.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Finally, Oppenheimer raised their price target on shares of The Goldman Sachs Group from $447.00 to $468.00 and gave the stock an “outperform” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $393.76.
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 resale agreements.
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