The Goldman Sachs Group (NYSE:GS) Shares Gap Up After Earnings Beat

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $389.49, but opened at $407.00. The Goldman Sachs Group shares last traded at $407.54, with a volume of 1,488,905 shares traded.

The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the prior year, the business earned $8.79 EPS. The Goldman Sachs Group’s revenue was up 16.1% on a year-over-year basis.

Analyst Ratings Changes

Several brokerages have weighed in on GS. BMO Capital Markets upped their price target on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a report on Tuesday. HSBC increased their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday. JMP Securities increased their price objective on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective on the stock in a report on Tuesday. Finally, Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $410.00 to $430.00 in a report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.93.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,907 shares of company stock valued at $13,950,851. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently bought and sold shares of the company. Trueblood Wealth Management LLC purchased a new position in The Goldman Sachs Group during the fourth quarter worth $989,000. TBH Global Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 2.0% during the third quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock worth $1,190,000 after purchasing an additional 72 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in shares of The Goldman Sachs Group by 27,076.5% during the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after purchasing an additional 650,918 shares during the last quarter. Syon Capital LLC acquired a new stake in shares of The Goldman Sachs Group during the third quarter worth $1,395,000. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of The Goldman Sachs Group by 5.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 11,541 shares of the investment management company’s stock worth $4,452,000 after purchasing an additional 617 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 1.1 %

The firm has a fifty day moving average price of $395.32 and a 200-day moving average price of $365.08. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.29. The firm has a market cap of $128.68 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.51 and a beta of 1.43.

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.