Barclays Boosts Goldman Sachs Group (NYSE:GS) Price Target to $270.00

Goldman Sachs Group (NYSE:GS) had its target price upped by Barclays from $253.00 to $270.00 in a report released on Thursday, The Fly reports. The brokerage currently has an equal weight rating on the investment management company’s stock.

GS has been the subject of several other reports. Oppenheimer upped their target price on Goldman Sachs Group from $335.00 to $355.00 in a research note on Thursday, July 16th. UBS Group upgraded Goldman Sachs Group from a neutral rating to a buy rating and upped their price target for the stock from $220.00 to $245.00 in a research note on Wednesday, September 23rd. DA Davidson upped their price target on Goldman Sachs Group from $215.00 to $238.00 and gave the stock a neutral rating in a research note on Thursday, July 16th. Credit Suisse Group upped their price target on Goldman Sachs Group from $240.00 to $255.00 and gave the stock an outperform rating in a research note on Thursday, July 16th. Finally, JMP Securities upped their price target on Goldman Sachs Group from $280.00 to $285.00 and gave the stock a market outperform rating in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Goldman Sachs Group presently has an average rating of Buy and a consensus price target of $249.29.

NYSE GS opened at $206.21 on Thursday. The business has a fifty day moving average price of $202.41 and a 200 day moving average price of $195.54. Goldman Sachs Group has a one year low of $130.85 and a one year high of $250.46. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $70.95 billion, a P/E ratio of 10.94, a P/E/G ratio of 6.54 and a beta of 1.39.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 20th. The investment management company reported $9.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.57 by $4.11. Goldman Sachs Group had a return on equity of 9.07% and a net margin of 13.40%. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same period in the prior year, the company earned $4.79 EPS. The firm’s revenue was up 28.6% compared to the same quarter last year. As a group, sell-side analysts predict that Goldman Sachs Group will post 14.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, December 1st. Goldman Sachs Group’s dividend payout ratio is currently 23.78%.

A number of institutional investors and hedge funds have recently modified their holdings of GS. Fisher Asset Management LLC boosted its holdings in Goldman Sachs Group by 820.5% in the second quarter. Fisher Asset Management LLC now owns 2,187,696 shares of the investment management company’s stock valued at $432,333,000 after purchasing an additional 1,950,030 shares during the last quarter. Jennison Associates LLC boosted its holdings in Goldman Sachs Group by 53.3% in the second quarter. Jennison Associates LLC now owns 5,459,398 shares of the investment management company’s stock valued at $1,078,886,000 after purchasing an additional 1,897,007 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Goldman Sachs Group by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 6,075,538 shares of the investment management company’s stock valued at $1,200,648,000 after purchasing an additional 296,438 shares during the last quarter. FDx Advisors Inc. boosted its holdings in Goldman Sachs Group by 24,328.7% in the first quarter. FDx Advisors Inc. now owns 254,303 shares of the investment management company’s stock valued at $6,158,000 after purchasing an additional 253,262 shares during the last quarter. Finally, Kingstown Capital Management L.P. purchased a new position in Goldman Sachs Group in the first quarter valued at about $38,648,000. 68.70% of the stock is owned by hedge funds and other institutional investors.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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