Q2 2024 EPS Estimates for The Goldman Sachs Group, Inc. Decreased by Seaport Res Ptn (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities researchers at Seaport Res Ptn cut their Q2 2024 earnings estimates for shares of The Goldman Sachs Group in a research note issued to investors on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now anticipates that the investment management company will post earnings per share of $8.26 for the quarter, down from their prior estimate of $8.42. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $35.15 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.63 EPS, FY2024 earnings at $36.00 EPS, Q1 2025 earnings at $11.13 EPS, Q3 2025 earnings at $9.59 EPS and Q4 2025 earnings at $8.68 EPS.

GS has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the company an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Edward Jones assumed coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $434.93.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $404.00 on Thursday. The firm has a market capitalization of $131.11 billion, a P/E ratio of 15.78, a PEG ratio of 1.31 and a beta of 1.43. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The company has a 50 day moving average price of $396.43 and a 200 day moving average price of $366.20. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating the consensus estimate of $8.54 by $3.04. The firm had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The Goldman Sachs Group’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $8.79 EPS.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors have recently added to or reduced their stakes in GS. Cohen Investment Advisors LLC boosted its stake in The Goldman Sachs Group by 3.7% during the 1st quarter. Cohen Investment Advisors LLC now owns 8,132 shares of the investment management company’s stock worth $3,397,000 after purchasing an additional 289 shares during the last quarter. FORVIS Wealth Advisors LLC boosted its stake in The Goldman Sachs Group by 26.5% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,108 shares of the investment management company’s stock worth $880,000 after purchasing an additional 441 shares during the last quarter. GenTrust LLC boosted its stake in The Goldman Sachs Group by 21.4% during the 1st quarter. GenTrust LLC now owns 9,621 shares of the investment management company’s stock worth $4,019,000 after purchasing an additional 1,694 shares during the last quarter. FCG Investment Co boosted its stake in The Goldman Sachs Group by 86.5% during the 1st quarter. FCG Investment Co now owns 1,414 shares of the investment management company’s stock worth $591,000 after purchasing an additional 656 shares during the last quarter. Finally, Insight Folios Inc boosted its stake in The Goldman Sachs Group by 17.7% during the 1st quarter. Insight Folios Inc now owns 1,939 shares of the investment management company’s stock worth $810,000 after purchasing an additional 291 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In other news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 4,300 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock valued at $13,950,851 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

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.