Market Update: The Goldman Sachs Group Inc (NYSE:GS) – Goldman Sachs Asset Management Announces Additional Updates to Money Market Fund Product Line in Anticipation of New Regulatory Requirements

[Business Wire] – Goldman Sachs Asset Management today announced further updates in its money market fund product line to prepare clients for the Securities and Exchange Commission’s Rule 2a-7 amendments, which become effective in October 2016. Read more on this. The Goldman Sachs Group, Inc. (GS) , with a current value of $78.54B, began trading this morning at $181.20. A quick look at the market, the company’s stock traded between $176.01 and $183.93 with a one year range of $167.49 to $218.77. Goldman Sachs (GS) shares are currently priced at 11.83x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.77x earnings multiple for the same period. And for income investors, the company pays shareholders $2.60 per share annually in dividends, yielding 1.43%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $4.66 per share, which would be $0.28 better than the year-ago quarter and a $0.71 sequential decrease. The full-year EPS estimate is $15.44 which would be a $1.63 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.78 Billion. If realized, that would be a 1.17% increase over the year-ago quarter. More recently, Deutsche Bank downgraded GS from Buy to Hold (Jun 24, 2015). Previously, Atlantic Equities Initiated GS at to Overweight. With the above information in mind, readers should note that the average price target is $208.92, which is 15.30% above where the stock opened this morning. See more in (NYSE:GS) Similar Articles: Market Update: The Goldman Sachs Group Inc (NYSE:GS) – HazelTree and Goldman Sachs Asset Management Announce Strategic Partnership to Help Investment Managers Manage Cash Holdings Market Update (NYSE:GS): Goldman Sachs Asset Management Launches ActiveBeta® International Equity Exchange-Traded Fund Company Update (NYSE:GS): Goldman Sachs Asset Management Launches GS Absolute Return Multi-Asset Fund