JPMorgan Chase & Co. Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its target price boosted by JPMorgan Chase & Co. from $605.00 to $625.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

Other research analysts have also issued research reports about the company. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Barclays boosted their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Oppenheimer cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Finally, UBS Group raised their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $593.27.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $586.16 on Tuesday. The stock has a market capitalization of $182.90 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.89 and a beta of 1.37. 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 has a 1-year low of $387.12 and a 1-year high of $672.19. The business has a 50-day moving average price of $611.53 and a two-hundred day moving average price of $570.61.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. During the same period in the prior year, the business posted $5.48 EPS. The Goldman Sachs Group’s revenue was up 22.5% on a year-over-year basis. Equities analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 2.05%. The Goldman Sachs Group’s payout ratio is 29.59%.

Insiders Place Their Bets

In other news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the transaction, the treasurer now owns 8,192 shares in the company, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,925 shares of company stock worth $12,630,683. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently bought and sold shares of GS. Stephens Consulting LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Asset Planning Inc bought a new stake in The Goldman Sachs Group during the fourth quarter worth $29,000. Curio Wealth LLC purchased a new stake in The Goldman Sachs Group in the 4th quarter valued at $30,000. Transce3nd LLC bought a new position in The Goldman Sachs Group during the 4th quarter valued at $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group during the 4th quarter worth $31,000. 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.