Goldman Sachs earnings edge down, beat expectations

Gladys Abbott
October 18, 2017

J P Morgan Chase & Co restated a buy rating on shares of Goldman Sachs Group, Inc. (The) in a research note on Monday, July 3rd.

Co. lifted its holdings in shares of Goldman Sachs Group, Inc. (The) from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, June 28th. Specifically, Goldman Sachs missed earnings and revenue expectations for the first quarter, a rarity for the bank and its first earnings miss since 2015. Jacobus Wealth Management holds 0.03% of its portfolio in Goldman Sachs Group Inc (NYSE:GS) for 500 shares. The rating was maintained by Oppenheimer on Tuesday, July 18 with "Buy". Vanguard Group Inc. lifted its stake in shares of Goldman Sachs Group, Inc. (The) in a research report on Tuesday, July 11th.

Among 6 analysts covering WGL Holdings (NYSE:WGL), 0 have Buy rating, 1 Sell and 5 Hold. (The) now has an average rating of "Hold" and a consensus price target of $240.09. Goldman Sachs Group Inc (NYSE:GS) has risen 39.23% since October 16, 2016 and is uptrending. (The) from a "c+" rating to a "b" rating in a report on Friday. Vident Advisory Limited Liability Company has invested 0.03% in Goldman Sachs Group Inc (NYSE:GS).

Goldman shares were off 0.3 percent at $241.69 in early Tuesday trades. Chicago Partners Investment Group LLC increased its position in Goldman Sachs Group, Inc. The company has market cap of $22.00 million. (The) (NYSE:GS) last released its quarterly earnings data on Tuesday, October 17th. Goldman Sachs generated $8.33 billion in revenue during the third quarter, handily beating analyst expectations of $7.54 billion.

Return on equity came to 10.9 percent for the year - 10.3 percent year to date - against the 10 percent cost of capital.

Compensation levels remained steady at $3.17 billion while non-compensation expenses rose 4 percent annualized and 2 percent quarterly.

More news: Morgan Stanley (MS) Q3 2017 Earnings Beat Boosts Shares

Net earnings applicable to common shareholders for the third-quarter of 2017 decreased 3 percent to $2.04 billion from the prior year's $2.10 billion, while quarterly earnings per share increased to $5.02 from $4.88 in the third quarter of 2016.

Goldman Sachs Group, Inc. has a 12 month low of $168.45 and a 12 month high of $255.15.

They expect $4.31 EPS, down 13.23% or $0.57 from last year's $4.88 per share.

Investors sentiment increased to 1.08 in 2017 Q2. (The) news, insider David M. Solomon sold 3,260 shares of the business's stock in a transaction dated Monday, August 7th.

Total shares held by institutions as of the most recent company filings are 302,442,320 with a reported 15,526,483 bought and 21,087,449 sold. Following the sale, the insider now owns 177,594 shares in the company, valued at approximately $41,128,994.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The shares were sold at an average price of $227.79, for a total value of $1,045,556.10. Following the completion of the transaction, the director now directly owns 854,925 shares of the company's stock, valued at approximately $194,743,365.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,535 shares of company stock valued at $5,956,868. Sigma Planning Corporation owns 2,240 shares. It improved, as 96 investors sold GS shares while 350 reduced holdings. The legal version of this piece can be viewed at The biggest holder now is Henry M. Paulson, Jr who owns 3,230,024 shares (0.83% of those outstanding), whilst John A. Thain holds 2,134,061 (0.55% of shares outstanding) and Mr. Robert Steven Kaplan holds 2,002,500 (0.52% of shares outstanding). BlackRock Inc. now owns 24,569,536 shares of the investment management company's stock valued at $5,644,114,000 after purchasing an additional 23,847,154 shares during the period.

COPYRIGHT VIOLATION WARNING: "Goldman Sachs Group, Inc". (The) by 0.3% in the 1st quarter. New England Asset Management Inc. now owns 2,331,063 shares of the investment management company's stock valued at $535,492,000 after purchasing an additional 1,900,000 shares during the period.

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