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Goldman Sachs Group Inc Earnings Miss As Institutional Unit Drags

19 April 2017

The megabank missed earnings expectations in both earnings per share and revenue, causing its stock to fall to its lowest level in almost five months, the article stated. The company has a market capitalization of $90.54 billion, a PE ratio of 13.40 and a beta of 1.50. That compares with $1.14 billion, or $2.68 a share, a year ago, when Goldman posted its worst first quarter in 12 years as trading sputtered and interest rates remained painfully low.

The financial stocks have led the US stock market rally since the presidential election, but have struggled this year with the sector closed Monday just about flat year-to-date.

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. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and global copyright and trademark legislation. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

It said net interest income lifted 5% to 11.1 billion United States dollars (£8.7 billion), driven in part by the U.S. interest rate rise, which has allowed lenders to charge more for their loans. The disclosure for this sale can be found here.

Market capitalization is the total market value of all of a company's outstanding shares.

Shares of Goldman Sachs sank 3 percent in pre-market trading to $219.99. Goldman Sachs Group's dividend payout ratio is presently 15.89%. Goldman Sachs said its investment-banking backlog decreased from the fourth quarter and last year's first quarter. Following the transaction, the executive vice president now owns 77,135 shares of the company's stock, valued at approximately $19,296,091.60.

Goldman Sachs bumped up its quarterly dividend to 75 cents from 65 cents per share and added another 50 million shares to its share repurchase program.

In other Goldman Sachs Group news, EVP John F.W. Rogers sold 32,325 shares of the company's stock in a transaction that occurred on Wednesday, February 15th.

We saw good client activity in our balanced portfolio of businesses: consumer spending was up, our wealth management business had strong asset management flows, investment banking fees rebounded nicely, and we continued to provide credit and capital to our corporate and institutional clients to help them drive the economy forward.

To view Vetr's full report, visit Vetr's official website.