The Goldman Sachs Group (NYSE:GS) Price Target Raised to $585.00 at Citigroup

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

GS has been the subject of a number of other reports. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Evercore ISI increased their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group boosted their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.00.

The Goldman Sachs Group Stock Up 1.1 %

Shares of NYSE GS opened at $602.78 on Thursday. The Goldman Sachs Group has a 52 week low of $334.87 and a 52 week high of $607.15. The stock’s fifty day moving average is $529.52 and its 200 day moving average is $494.47. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $189.22 billion, a P/E ratio of 17.69, a PEG ratio of 0.87 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released 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 Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the prior year, the company earned $5.47 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts forecast that The Goldman Sachs Group will post 37.15 earnings per share 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. Stockholders 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 dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Insider Activity at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in The Goldman Sachs Group by 407.2% during the first quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after purchasing an additional 338 shares during the period. Shell Asset Management Co. purchased a new stake in The Goldman Sachs Group in the 1st quarter worth about $377,000. EntryPoint Capital LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at about $101,000. Gamco Investors INC. ET AL lifted its holdings in The Goldman Sachs Group by 1.6% during the first quarter. Gamco Investors INC. ET AL now owns 6,461 shares of the investment management company’s stock valued at $2,699,000 after purchasing an additional 100 shares during the last quarter. Finally, Elkhorn Partners Limited Partnership bought a new position in The Goldman Sachs Group during the first quarter worth about $4,129,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

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.