The Goldman Sachs Group, Inc. (NYSE:GS) Expected to Post Q3 2024 Earnings of $8.49 Per Share

The Goldman Sachs Group, Inc. (NYSE:GS) – Analysts at Seaport Res Ptn lowered their Q3 2024 EPS estimates for The Goldman Sachs Group in a 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 $8.49 for the quarter, down from their prior estimate of $8.73. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $32.76 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q2 2025 earnings at $9.77 EPS and FY2025 earnings at $39.20 EPS.

A number of other equities research analysts have also recently issued reports on the company. Bank of America raised their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer raised their target price on The Goldman Sachs Group from $446.00 to $479.00 and gave the company an “outperform” rating in a research note on Tuesday. JMP Securities lifted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Morgan Stanley upgraded shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $333.00 to $449.00 in a research note on Tuesday, January 30th. Finally, Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Six equities 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $403.91 on Wednesday. The company has a market cap of $131.08 billion, a PE ratio of 15.77, a P/E/G ratio of 1.56 and a beta of 1.43. The company has a fifty day moving average price of $395.67 and a two-hundred day moving average price of $365.35. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $419.20.

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

Institutional Trading of The Goldman Sachs Group

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth about $1,903,374,000. Norges Bank bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $1,120,119,000. Morgan Stanley boosted its position in shares of The Goldman Sachs Group by 40.0% in the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after purchasing an additional 1,696,350 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in The Goldman Sachs Group by 168,772.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after acquiring an additional 1,243,852 shares in the last quarter. Finally, Congress Wealth Management LLC DE boosted its holdings in shares of The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after purchasing an additional 650,918 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares in the company, valued at approximately $4,357,659.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares in the company, valued at approximately $4,357,659.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders sold 35,907 shares of company stock valued at $13,950,851 in the last three months. Corporate insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.72%. The Goldman Sachs Group’s dividend payout ratio is presently 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.