The Goldman Sachs Group (NYSE:GS) Price Target Raised to $588.00 at Barclays

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by Barclays from $565.00 to $588.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

GS has been the subject of a number of other research reports. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America boosted their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday. Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $529.86 on Wednesday. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $540.51. The company has a market cap of $170.86 billion, a PE ratio of 20.69, a P/E/G ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The business has a 50-day simple moving average of $496.53 and a 200-day simple moving average of $467.83.

The Goldman Sachs Group (NYSE:GS) last posted its 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 firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.47 earnings per share. On average, equities research analysts forecast that The Goldman Sachs Group will post 35.52 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Institutional Trading of The Goldman Sachs Group

Large investors have recently bought and sold shares of the company. Procyon Advisors LLC grew its holdings in The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares during the last quarter. Brookstone Capital Management lifted its position in shares of The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares in the last quarter. Empowered Funds LLC lifted its position in shares of The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after acquiring an additional 2,428 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after acquiring an additional 2,103 shares in the last quarter. Institutional investors and hedge funds 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.