Q3 2024 EPS Estimates for The Goldman Sachs Group, Inc. Lowered by Seaport Res Ptn (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities researchers at Seaport Res Ptn reduced their Q3 2024 earnings per share (EPS) estimates for shares of The Goldman Sachs Group in a research note issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will post earnings per share of $7.00 for the quarter, down from their previous estimate of $8.20. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $35.43 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.47 EPS, Q3 2025 earnings at $9.59 EPS and Q4 2025 earnings at $8.41 EPS.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%.

GS has been the topic of several other reports. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $499.13.

The Goldman Sachs Group Stock Up 0.4 %

Shares of GS stock opened at $496.57 on Monday. The company’s fifty day simple moving average is $492.33 and its two-hundred day simple moving average is $463.18. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $517.26. The stock has a market cap of $160.13 billion, a P/E ratio of 19.36, a PEG ratio of 0.78 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20.

Institutional Investors Weigh In On The Goldman Sachs Group

Several large investors have recently modified their holdings of the business. Waldron Private Wealth LLC raised its position in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares during the last quarter. Fulton Bank N.A. boosted its holdings in The Goldman Sachs Group by 0.8% in the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock valued at $1,233,000 after purchasing an additional 22 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its position in The Goldman Sachs Group by 1.1% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock worth $893,000 after purchasing an additional 22 shares during the period. Jacobi Capital Management LLC raised its stake in shares of The Goldman Sachs Group by 1.5% during the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after buying an additional 23 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 1.2% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock valued at $913,000 after buying an additional 23 shares during the period. Institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $3.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend was Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.42%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

About The Goldman Sachs Group

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.