Societe Generale Downgrades Goldman Sachs Group (GS)

Fintel reports that on July 10, 2023, Societe Generale downgraded their outlook for Goldman Sachs Group (NYSE:GS) from Buy to Hold .

Analyst Price Forecast Suggests 23.85% Upside

As of July 6, 2023, the average one-year price target for Goldman Sachs Group is 390.34. The forecasts range from a low of 308.05 to a high of $493.50. The average price target represents an increase of 23.85% from its latest reported closing price of 315.17.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Goldman Sachs Group is 52,341MM, an increase of 17.16%. The projected annual non-GAAP EPS is 38.63.

  • For more in-depth coverage of Goldman Sachs Group, view the free, crowd-sourced company research report on Finpedia.

Goldman Sachs Group Declares $2.50 Dividend

On April 18, 2023 the company declared a regular quarterly dividend of $2.50 per share ($10.00 annualized). Shareholders of record as of June 1, 2023 received the payment on June 29, 2023. Previously, the company paid $2.50 per share.

At the current share price of $315.17 / share, the stock’s dividend yield is 3.17%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.22%, the lowest has been 1.29%, and the highest has been 3.70%. The standard deviation of yields is 0.55 (n=236).

The current dividend yield is 1.72 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.31. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 2858 funds or institutions reporting positions in Goldman Sachs Group. This is a decrease of 22 owner(s) or 0.76% in the last quarter. Average portfolio weight of all funds dedicated to GS is 0.60%, an increase of 11.14%. Total shares owned by institutions increased in the last three months by 6.31% to 294,651K shares. The put/call ratio of GS is 1.13, indicating a bearish outlook.

What are Other Shareholders Doing?

 

Ofi Invest Asset Management holds 25,476K shares representing 7.80% ownership of the company.

Capital World Investors holds 9,790K shares representing 3.00% ownership of the company. In its prior filing, the firm reported owning 5,699K shares, representing an increase of 41.78%. The firm increased its portfolio allocation in GS by 58.67% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 9,518K shares representing 2.91% ownership of the company. In its prior filing, the firm reported owning 9,442K shares, representing an increase of 0.80%. The firm decreased its portfolio allocation in GS by 11.33% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 7,250K shares representing 2.22% ownership of the company. In its prior filing, the firm reported owning 7,178K shares, representing an increase of 1.00%. The firm decreased its portfolio allocation in GS by 10.76% over the last quarter.

Massachusetts Financial Services holds 6,797K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 6,840K shares, representing a decrease of 0.63%. The firm decreased its portfolio allocation in GS by 85.77% over the last quarter.

Goldman Sachs Group Background Information
(This description is provided by the company.)

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Additional reading:

  • JOINT FILING AGREEMENT
  • Goldman Sachs Announces 10% Dividend Increase
  • with respect to notes linked to the S&P 500
  • with respect to notes linked to the S&P 500
  • with respect to notes linked to the common stock of Apple Inc., $8,192,580; and

This article originally appeared on Fintel

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