The Goldman Sachs Group (NYSE:GS) Sees Strong Trading Volume Following Earnings Beat

The Goldman Sachs Group, Inc. (NYSE:GS) saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 1,621,548 shares changed hands during trading, a decline of 16% from the previous session’s volume of 1,921,083 shares.The stock last traded at $605.31 and had previously closed at $571.53.

The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same period in the previous year, the business earned $5.48 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 22.5% compared to the same quarter last year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Bank of America lifted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.31.

Insider Buying and Selling

In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the completion of the transaction, the director now directly owns 608,425 shares in the company, valued at $372,404,774. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,940 shares of company stock worth $12,656,179. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group in the second quarter valued at $26,000. Headlands Technologies LLC bought a new stake in The Goldman Sachs Group in the second quarter valued at $27,000. West Branch Capital LLC bought a new stake in The Goldman Sachs Group in the third quarter valued at $30,000. DT Investment Partners LLC grew its holdings in shares of The Goldman Sachs Group by 110.0% during the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after purchasing an additional 33 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 6.0 %

The firm has a fifty day moving average price of $585.67 and a 200 day moving average price of $527.58. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market cap of $190.19 billion, a P/E ratio of 17.78, a PEG ratio of 0.85 and a beta of 1.38.

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.