Goldman Sachs' profits miss forecasts as trading struggled
- Author: Todd Kelly Apr 20, 2017,
Apr 20, 2017, 0:36
Total shares held by institutions as of the most recent company filings are 294,846,273 with a reported 26,798,900 bought and 22,432,014 sold.
Shares of Goldman Sachs ticked lower by as much as 3.32% to $218.75 in premarket trades.
Goldman shares have fallen 5.5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 5 percent. 4,155,939 shares of the stock were exchanged.
Goldman Sachs's stock dropped $9.88, or 4.4 percent, to $216.36.
According to Finviz reported data, The SMA20 of the stock is at 1.47 percent, SMA50 is -0.25 percent, while SMA200 is 5.43 percent.
Instead of developing light-speed technology to win over computer-driven money managers, Goldman chose to cater to institutional investors, like hedge funds, that it already had relationships with. Thomas J. Herzfeld Advisors Inc. purchased a new position in Goldman Sachs Group during the fourth quarter worth about $166,000. Goldman Sachs Group, Inc. For the past 5 days of trading, the stock has seen a move of -3.62%.
Goldman Sachs and Bank of America saw their net income and revenues increase in the first quarter of 2017, the global investment banking giants said Tuesday. Revenue increased to $8.03 billion from $6.34 billion, but was below the FactSet consensus of $8.37 billion. The company has a 1 Year high price target of $253.33.
Net income nearly doubled to US$2.26 billion, or US$5.15 a share, from US$1.14 billion, or US$2.68, a year earlier, the company said in the statement. On average, equities research analysts forecast that Goldman Sachs Group Inc will post $19.59 earnings per share for the current fiscal year.
Goldman also announced an increase in its quarterly dividend, which is rising by $0.10 to $0.75 per share, beginning with the June dividend payment. Stockholders of record on Thursday, March 2nd will be given a dividend of $0.65 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Tuesday, February 28th. Signaturefd LLC boosted its position in Goldman Sachs Group, Inc. Net revenues in debt securities and loans were also significantly higher compared with the first quarter of 2016, reflecting significantly higher net gains from investments in debt instruments and higher net interest income.
TRADEMARK VIOLATION NOTICE: This article was first published by [[site]] and is owned by of [[site]]. Atlantic Equities Downgrades The Goldman Sachs Group, Inc.
Several investment firms issued their expert ratings on The Goldman Sachs Group, Inc. Goldman Sachs reported $5.15 per share in earnings on $8.03 billion in revenue, compared to the Wall Street estimates of $5.31 per share and $8.4 billion. HSBC Holdings plc reissued a "buy" rating and issued a $291.00 price target on shares of Goldman Sachs Group in a report on Monday, March 27th. (The) (NASDAQ:GS), 4 rate it "Buy", 11 "Outperform", 13 "Underperform", 1 "Sell", while 2 "Hold". There may be various price targets for a stock.
In other Goldman Sachs Group news, insider Harvey M. Schwartz sold 25,000 shares of the company's stock in a transaction on Thursday, January 19th. Company insiders own 2.61% of the company's stock. Following the completion of the transaction, the executive vice president now owns 94,458 shares in the company, valued at approximately $23,620,167.48.