Citigroup Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price objective raised by Citigroup from $485.00 to $585.00 in a research note published on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the investment management company’s stock.

Several other equities research analysts have also recently weighed in on GS. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Bank of America boosted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Oppenheimer lifted their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, JMP Securities lifted their price objective on shares of 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $542.00.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $4.45 on Thursday, reaching $600.56. The company’s stock had a trading volume of 119,318 shares, compared to its average volume of 2,212,527. The stock’s fifty day simple moving average is $527.04 and its 200-day simple moving average is $492.68. The Goldman Sachs Group has a 1 year low of $334.87 and a 1 year high of $607.15. The company has a market capitalization of $188.52 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the business posted $5.47 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts forecast that The Goldman Sachs Group will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.00%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mizuho Securities USA LLC raised its stake in The Goldman Sachs Group by 30,068.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the last quarter. AMF Tjanstepension AB raised its stake in The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after purchasing an additional 743,402 shares during the last quarter. FMR LLC raised its stake in The Goldman Sachs Group by 21.9% in the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after purchasing an additional 521,054 shares during the last quarter. 1832 Asset Management L.P. raised its stake in The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after purchasing an additional 438,754 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in The Goldman Sachs Group by 878.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after purchasing an additional 356,512 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.