Goldman Sachs' profits miss forecasts as trading struggled

The target price for The Goldman Sachs Group, Inc.

A number of hedge funds and other institutional investors have recently bought and sold shares of GS.

Goldman Sachs shares are now down by 4.43% at $216.27 from opening at $219.32. Not only that, but Goldman's board authorized the repurchase of another 50 million common shares, worth $10.8 billion, or almost 13% of the current outstanding share count.

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While there was a lot of negative information in Goldman Sachs' first-quarter earnings report, the news wasn't all bad. UBS has a buy rating on the stock with a price target of $285 a share, slightly more than 25 percent above where Goldman closed Monday. RBC Capital Markets set a $250.00 price target on shares of Goldman Sachs Group, Inc. Shares of Goldman Sachs have fallen approximately 9.96 percent year-to-date.

The last time Goldman reported a miss on earnings per share was the fourth quarter of 2015. Finally, Northwest Quadrant Wealth Management LLC purchased a new position in Goldman Sachs Group during the fourth quarter worth about $171,000.

"If they're not experiencing the same good results as their peers, you may have to question if they're owning up to their issues", said Jerry Braakman, chief investment officer of First American Trust, which holds Goldman shares. GS stock stood at $248 when the 65-cent-per-share dividend was paid out March 1, and got as high as $253 a few days later, but then slumped to $225, by March 27. The stock's 50 day moving average price is $238.83 and its 200 day moving average price is $220.28. Atlantic Equities Downgrades The Goldman Sachs Group, Inc. (GS) has a market capitalization of 85.76 Billion. First-quarter results also compare to the consensus estimates for EPS of $5.31 on revenue of $8.45 billion. The investment bank reported diluted earnings per share (EPS) of $5.15 on revenue of $8.03 billion. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.80 billion.

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Credit Suisse analyst Christian Bolu said Goldman investors were showing some "nervousness" about the strength of the business, and UBS's Brennan Hawken chastised the performance, saying that topping the prior year should have been "kind of easy."I'm not fully - I'm still confused", said Hawken, adding, "I have some company".

The accrual for compensation and benefits expenses (including salaries, estimated year-end discretionary compensation, amortization of equity awards and other items such as benefits) was $3.29 billion for the first quarter of 2017, 24% higher than the first quarter of 2016, reflecting an increase in net revenues.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. This represents a $3.00 annualized dividend and a yield of 1.40%. Atria Investments LLC boosted its position in Goldman Sachs Group by 19.4% in the third quarter.

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TRADEMARK VIOLATION NOTICE: This article was first published by [[site]] and is owned by of [[site]]. The legal version of this article can be accessed at https://www.com-unik.info/2017/04/16/honkamp-krueger-financial-services-inc-reduces-position-in-goldman-sachs-group-inc-gs.html. (NYSE:GS) shares have seen a move of -6.49%. The poor results caused the bank's stock to fall sharply. The current share price indicates that stock is -11.32% away from its one year high and is moving 65.30% ahead of its 52-week low. Macquarie restated an outperform rating on shares of Goldman Sachs Group in a research report on Thursday, February 16th. (The) (NYSE:GS) last released its quarterly earnings data on Wednesday, January 18th.

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