The Goldman Sachs Group (NYSE:GS) Price Target Raised to $550.00

The Goldman Sachs Group (NYSE:GS) had its target price increased by JPMorgan Chase & Co. from $520.00 to $550.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the investment management company’s stock.

Several other research analysts have also commented on GS. Citigroup boosted their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Barclays boosted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $559.75.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $599.68 on Friday. 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 50 day moving average price of $551.28 and a 200 day moving average price of $504.41. The firm has a market capitalization of $188.25 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.87 and a beta of 1.38. The Goldman Sachs Group has a 52-week low of $342.00 and a 52-week high of $612.73.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.47 EPS. As a group, sell-side analysts predict that The Goldman Sachs Group will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business 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 $3.00 dividend. 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 2.00%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the completion of the transaction, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. The trade was a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,940 shares of company stock worth $13,717,979 over the last quarter. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of large investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas acquired a new position in shares of The Goldman Sachs Group during the third quarter valued at approximately $2,161,000. Franklin Resources Inc. raised its holdings in shares of The Goldman Sachs Group by 3.9% during the third quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company’s stock valued at $898,428,000 after acquiring an additional 62,246 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of The Goldman Sachs Group by 4.7% during the third quarter. Synovus Financial Corp now owns 15,998 shares of the investment management company’s stock valued at $7,920,000 after acquiring an additional 724 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of The Goldman Sachs Group by 6.3% during the third quarter. Tidal Investments LLC now owns 11,691 shares of the investment management company’s stock valued at $5,788,000 after acquiring an additional 688 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of The Goldman Sachs Group by 18.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,563 shares of the investment management company’s stock valued at $4,240,000 after purchasing an additional 1,351 shares in the last quarter. Institutional investors and hedge funds 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.