Goldman Sachs Group, Inc. (The) (GS) Cut to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) from an outperform rating to a market perform rating in a report published on Wednesday, Marketbeat reports. The firm currently has $240.00 price target on the investment management company’s stock.

A number of other brokerages also recently issued reports on GS. Zacks Investment Research downgraded Goldman Sachs Group, Inc. (The) from a buy rating to a hold rating in a research report on Wednesday, March 22nd. Vetr upgraded Goldman Sachs Group, Inc. (The) from a sell rating to a hold rating and set a $231.00 price target for the company in a research report on Tuesday, March 21st. Credit Suisse Group restated a buy rating and issued a $260.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research report on Wednesday, April 5th. HSBC Holdings plc restated a buy rating and issued a $291.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, March 27th. Finally, Deutsche Bank AG reiterated a buy rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $237.54.

Goldman Sachs Group, Inc. (NYSE:GS) traded down 0.19% during midday trading on Wednesday, reaching $222.44. 1,639,158 shares of the company were exchanged. The firm has a market capitalization of $91.04 billion, a PE ratio of 11.84 and a beta of 1.42. The company has a 50-day moving average of $222.45 and a 200 day moving average of $231.32. Goldman Sachs Group, Inc. has a 52 week low of $155.37 and a 52 week high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.56. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.47 billion. Goldman Sachs Group, Inc. (The) had a return on equity of 11.25% and a net margin of 26.44%. Goldman Sachs Group, Inc. (The)’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $3.72 earnings per share. Equities analysts predict that Goldman Sachs Group, Inc. will post $18.36 earnings per share for the current year.

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Goldman Sachs Group, Inc. (The) announced that its Board of Directors has authorized a share buyback program on Tuesday, April 18th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the investment management company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. Goldman Sachs Group, Inc. (The)’s payout ratio is 15.74%.

Several large investors have recently modified their holdings of the company. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth $166,000. Norges Bank acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth $389,380,000. Elkhorn Investments LLC acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth $828,000. Israel Discount Bank of New York GFN acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth $158,000. Finally, Dodge & Cox acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth $3,399,521,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

About Goldman Sachs Group, Inc. (The)

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.

Analyst Recommendations for Goldman Sachs Group, Inc. (The) (NYSE:GS)

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