SSgA Funds Management, Inc. recently announced the acquisition of new stake in The Goldman Sachs Group Inc. (NYSE:GS). The institutional investor has increased its shareholding in the Financial company by 0.30% to 20.71 million shares with purchase of 61766.0 shares. This fresh investment now brings its stake to 6.18% valued currently at $7.11 billion. In addition, Capital Research & Management Co raised its holdings by 4.83 million to 5.7 million shares. And Fisher Asset Management LLC has lifted its position by 2.94% or 0.14 million shares – to 5.04 million shares.
With over 1.49 million The Goldman Sachs Group Inc. (GS) shares trading Monday and a closing price of $324.92 on the day, the dollar volume was approximately $484.11 million. The shares have shown a negative half year performance of -14.45% and its price on 05/22/23 lost nearly -0.38%. Currently, there are 346.60M common shares owned by the public and among those 331.57M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for GS have a consensus price objective of $389.22. The analysts have set the share’s price value over the next 12 months at a high of $470.00 and a low of $330.00. The average price target is 16.11% above its recent price level and an upside to the estimated low will see the stock gain 1.54% over that period. But an upside of 30.87% will see the stock hit the forecast high price target while median target price for the stock is $390.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 200,558 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 153,894 shares.
The top 3 mutual fund holders in The Goldman Sachs Group Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR Dow Jones Industrial Average. Vanguard Total Stock Market ETF owns 9.52 million shares of the company’s stock, all valued at over $3.27 billion. The company sold 50507.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. Vanguard 500 Index Fund bought 38794.0 shares to see its total holdings expand to 7.25 million shares valued at over $2.49 billion and representing 2.16% of the shares outstanding. SPDR Dow Jones Industrial Average now owns shares totaling to 1.64% of the shares outstanding.
However, the script later moved the day high at 327.34, down -0.38%. The company’s stock has a 5-day price change of 0.88% and -10.02% over the past three months. GS shares are trading -5.38% year to date (YTD), with the 12-month market performance up to 5.43% higher. It has a 12-month low price of $277.84 and touched a high of $389.58 over the same period. GS has an average intraday trading volume of 2.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.52%, -0.36%, and -4.90% respectively.
Institutional ownership of The Goldman Sachs Group Inc. (NYSE: GS) shares accounts for 71.40% of the company’s 346.60M shares outstanding. Mutual fund holders own 39.06%, while other institutional holders and individual stakeholders account for 6.70% and 33.21% respectively.
It has a market capitalization of $109.15B and a beta (3y monthly) value of 1.41. The stock’s trailing 12-month PE ratio is 11.57, while the earnings-per-share (ttm) stands at $28.09. The company has a PEG of 10.41 and the debt-to-equity ratio at 8.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.69% over the week and 1.79% over the month.
Analysts forecast that The Goldman Sachs Group Inc. (GS) will achieve an EPS of $7.81 for the current quarter, $8.18 for the next quarter and $38.24 for 2024. The lowest estimate earnings-per-share for the quarter is $6.44 while analysts give the company a high EPS estimate of $9.28. Comparatively, EPS for the current quarter was $7.73 a year ago. Earnings per share for the fiscal year are expected to decrease by -49.40%, and 18.20% over the next financial year. EPS should shrink at an annualized rate of 1.11% over the next five years, compared to 8.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate The Goldman Sachs Group Inc. (GS) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 9 of the 27 advise that investors “hold,” and 0 rated it as a “Sell.”
