Argus

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Apr 14, 2026

Symbols

Sector(s)

Financial Services

Rating

Earnings Estimate

Current Price

$906.59

Price Target

Summary

The Goldman Sachs Group provides investment banking, securities, and investment management services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. Goldman reorganized its businesses in 4Q22 into three operating segments: Asset & Wealth Management, Global Banking & Markets, and Platform Solutions, with the latter including transaction banking and consumer partnerships.

INDSUTRY

Our rating on the Financial sector is Over-Weight. The Financial sector accounted for 12.6% of the S&P 500 as of the end of March. We think diversified investors should have meaningful exposure to the sector, at about 125-150% of the current sector weight.

The sector receives above-average marks on our six-part 'blind' sector rating criteria, which includes growth momentum, valuation, financial strength, and analyst conviction, among other factors.

The sector has underperformed the market year to date with a loss of 9.8% as of the end of March. The sector underperformed in 2025, with a gain of 13.3%, compared to a gain of 16.4% for the S&P 500. The beta for the sector is 1.1.

Over the past five years, the sector's weighting has ranged from 10% to 15%. The sector's P/E ratio on projected 2026 EPS was 15, below the market multiple. The yield of 1.4% was above the market average. The sector's smoothed earnings growth rate of 9% was below the market average.

The Financial sector is a cyclical and often value-oriented sector. The macroeconomic factors that may affect the performance of stocks in the Financial sector include the Unemployment Rate (which can influ

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Stephen Biggar

Director of Financial Institutions Research

Stephen is responsible for coverage of large global banks, regional banks and domestic credit card companies. He has covered financial services stocks for more than 20 years. He is also a member of the Argus Investment Policy Committee and Senior Portfolio Group, and frequently appears in print and broadcast media discussing the equity markets. Previously, he was the global director of equity research for S&P Capital IQ. He holds a degree in economics from Rutgers University.

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