Goldman Sachs Group (NYSE:GS) PT Raised to $270.00 at Barclays

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

Several other analysts also recently weighed in on GS. Royal Bank of Canada set a $225.00 price objective on Goldman Sachs Group and gave the company a neutral rating in a report on Wednesday. Berenberg Bank boosted their target price on shares of Goldman Sachs Group from $160.00 to $200.00 and gave the stock a hold rating in a report on Monday, July 20th. Seaport Global Securities initiated coverage on shares of Goldman Sachs Group in a report on Wednesday, July 8th. They issued a buy rating and a $261.00 target price for the company. JPMorgan Chase & Co. reiterated a buy rating and issued a $230.00 target price on shares of Goldman Sachs Group in a report on Thursday, July 16th. Finally, TheStreet downgraded shares of Goldman Sachs Group from a b- rating to a c+ rating in a report on Friday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $249.29.

GS stock opened at $206.21 on Thursday. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50-day moving average price of $202.41 and a 200 day moving average price of $195.54. The company has a market capitalization of $70.95 billion, a P/E ratio of 10.94, a PEG ratio of 6.54 and a beta of 1.39. Goldman Sachs Group has a 1-year low of $130.85 and a 1-year high of $250.46.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 20th. The investment management company reported $9.68 earnings per share for the quarter, beating the consensus estimate of $5.57 by $4.11. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $9.40 billion. Goldman Sachs Group had a return on equity of 9.07% and a net margin of 13.40%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.79 earnings per share. On average, analysts anticipate that Goldman Sachs Group will post 14.17 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of GS. Fisher Asset Management LLC boosted its position 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 buying an additional 1,950,030 shares during the last quarter. Jennison Associates LLC boosted its position 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 buying an additional 1,897,007 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 buying an additional 296,438 shares during the last quarter. FDx Advisors Inc. boosted its position 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 buying an additional 253,262 shares during the last quarter. Finally, Kingstown Capital Management L.P. purchased a new stake in Goldman Sachs Group in the first quarter valued at approximately $38,648,000. Hedge funds and other institutional investors own 68.70% of the company’s stock.

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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