Brokers Set Expectations for The Goldman Sachs Group, Inc.’s Q4 2023 Earnings (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GSGet Rating) – Stock analysts at Jefferies Financial Group upped their Q4 2023 earnings per share (EPS) estimates for The Goldman Sachs Group in a research note issued on Tuesday, January 17th. Jefferies Financial Group analyst D. Fannon now anticipates that the investment management company will post earnings per share of $7.64 for the quarter, up from their prior forecast of $7.54. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $31.98 per share. Jefferies Financial Group also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $9.22 EPS.

GS has been the subject of a number of other reports. Barclays upped their price target on shares of The Goldman Sachs Group from $410.00 to $495.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Goldman Sachs Group from $370.00 to $345.00 in a research note on Friday, January 6th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $325.00 to $350.00 and gave the company a “neutral” rating in a report on Monday, January 9th. Odeon Capital Group upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 target price for the company in a report on Tuesday, January 10th. Finally, JMP Securities upped their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $396.83.

The Goldman Sachs Group Trading Down 2.5 %

Shares of GS opened at $341.84 on Friday. The Goldman Sachs Group has a fifty-two week low of $277.84 and a fifty-two week high of $389.58. The stock has a fifty day moving average of $362.15 and a two-hundred day moving average of $338.52. The company has a market capitalization of $115.76 billion, a PE ratio of 9.10 and a beta of 1.41. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.84 and a current ratio of 0.84.

The Goldman Sachs Group (NYSE:GSGet Rating) last announced its quarterly earnings results on Tuesday, January 17th. The investment management company reported $3.32 EPS for the quarter, missing the consensus estimate of $5.77 by ($2.45). The Goldman Sachs Group had a return on equity of 13.23% and a net margin of 22.50%. The firm had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $10.91 billion. During the same period last year, the firm earned $10.81 EPS. The Goldman Sachs Group’s revenue was down 16.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $846,000. Veriti Management LLC raised its position in The Goldman Sachs Group by 6.4% during the 4th quarter. Veriti Management LLC now owns 6,220 shares of the investment management company’s stock valued at $2,136,000 after purchasing an additional 373 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of The Goldman Sachs Group by 58.0% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,883 shares of the investment management company’s stock worth $2,020,000 after acquiring an additional 2,159 shares in the last quarter. Avestar Capital LLC raised its position in shares of The Goldman Sachs Group by 6.7% in the 4th quarter. Avestar Capital LLC now owns 1,210 shares of the investment management company’s stock worth $415,000 after acquiring an additional 76 shares in the last quarter. Finally, Griffin Asset Management Inc. grew its stake in The Goldman Sachs Group by 1.5% during the 4th quarter. Griffin Asset Management Inc. now owns 22,176 shares of the investment management company’s stock worth $7,615,000 after buying an additional 328 shares during the last quarter. Institutional investors own 69.09% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 3,186,888 shares of The Goldman Sachs Group stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $22.56, for a total transaction of $71,896,193.28. Following the completion of the transaction, the insider now owns 24,826,071 shares of the company’s stock, valued at approximately $560,076,161.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO John E. Waldron sold 3,371 shares of the stock in a transaction on Friday, November 25th. The stock was sold at an average price of $385.98, for a total value of $1,301,138.58. Following the sale, the chief operating officer now directly owns 76,683 shares of the company’s stock, valued at $29,598,104.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 3,186,888 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $22.56, for a total value of $71,896,193.28. Following the sale, the insider now directly owns 24,826,071 shares in the company, valued at $560,076,161.76. The disclosure for this sale can be found here. Insiders have sold 4,847,711 shares of company stock valued at $117,408,700 in the last three months. 0.57% of the stock is currently owned by insiders.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 2nd will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, March 1st. The Goldman Sachs Group’s dividend payout ratio is 26.63%.

About The Goldman Sachs Group

(Get Rating)

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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

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Earnings History and Estimates for The Goldman Sachs Group (NYSE:GS)

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