The Goldman Sachs Group (NYSE:GS) Price Target Raised to $760.00

The Goldman Sachs Group (NYSE:GS) had its price target raised by Barclays from $713.00 to $760.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the investment management company’s stock.

GS has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America upped their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Citigroup lifted their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. JMP Securities upped their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $589.19.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $626.84 on Thursday. The Goldman Sachs Group has a 52 week low of $372.07 and a 52 week high of $627.00. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a market cap of $196.77 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.66 and a beta of 1.38. The business has a 50-day simple moving average of $587.22 and a two-hundred day simple moving average of $529.85.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same quarter last year, the business earned $5.48 EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. On average, analysts expect that The Goldman Sachs Group will post 37.24 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a dividend of $3.00 per share. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 1.91%. The Goldman Sachs Group’s payout ratio is currently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David M. Solomon sold 6,550 shares of The Goldman Sachs Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the transaction, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at approximately $72,015,903.53. This represents a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,940 shares of company stock worth $12,656,179 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Waddell & Associates LLC increased its stake in The Goldman Sachs Group by 2.1% in the third quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock worth $444,000 after purchasing an additional 18 shares during the period. Wescott Financial Advisory Group LLC increased its stake in The Goldman Sachs Group by 0.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock worth $1,346,000 after buying an additional 18 shares during the period. Bank of New Hampshire lifted its holdings in The Goldman Sachs Group by 8.0% during the 4th quarter. Bank of New Hampshire now owns 243 shares of the investment management company’s stock valued at $139,000 after buying an additional 18 shares in the last quarter. Marino Stram & Associates LLC boosted its position in The Goldman Sachs Group by 4.2% in the 4th quarter. Marino Stram & Associates LLC now owns 449 shares of the investment management company’s stock valued at $257,000 after buying an additional 18 shares during the period. Finally, First Pacific Financial grew its stake in The Goldman Sachs Group by 0.6% in the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock worth $1,568,000 after acquiring an additional 20 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.