The Goldman Sachs Group (NYSE:GS) Price Target Raised to $570.00

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by Morgan Stanley from $560.00 to $570.00 in a research note released on Wednesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the investment management company’s stock.

GS has been the topic of several other research reports. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. UBS Group raised their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, BMO Capital Markets raised their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Trading Down 0.1 %

NYSE:GS opened at $528.36 on Wednesday. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $540.51. The business has a fifty day moving average price of $498.15 and a 200-day moving average price of $469.05. The firm has a market capitalization of $170.38 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the business posted $5.47 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts forecast that The Goldman Sachs Group will post 35.52 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 0.00 % 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. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Semmax Financial Advisors Inc. bought a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at $26,000. Headlands Technologies LLC purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. lifted its position in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Finally, West Branch Capital LLC purchased a new position in shares of The Goldman Sachs Group in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.