Goldman Sachs (GS) has reported healthy Q2 earnings, providing an uplift for the stock. The financial giant has announced plans to cut up to 1,800 workers following performance reviews - a potential 3%-4% of its global workforce. GS also has strong institutional backing, with 68% of the stock controlled by institutional investors, who saw the stock increase by 3.9% last week. Furthermore, the dividend per share is to increase to $3.00, indicating continued growth. However, insiders sold $40m of shares, suggesting some hesitance within. Despite this, analysts remain bullish on the stock due to its performance in the finance sector, and hedge funds have shown increased interest. Despite the job cuts, GS is in an acquisition phase, having bought a majority stake in entertainment company TAIT. Despite the market's general rise, GS's stock has seen a downturn. A bullish future is expected according to analysts, with improvements in fixed-income trading and an emphasis on diversified investment and increasing the private credit portfolio to $300 billion in the next five years, indicating a significant strategic shift.
Goldman Sachs Group GS News Analytics from Tue, 16 Jan 2024 08:00:00 GMT to Fri, 30 Aug 2024 19:41:00 GMT -
Rating 6
- Innovation 4
- Information 8
- Rumor -2
