Oppenheimer Boosts Goldman Sachs Group (GS) Price Target to $313.00

Goldman Sachs Group (NYSE:GS) had its target price upped by Oppenheimer from $301.00 to $313.00 in a report released on Thursday morning. Oppenheimer currently has an outperform rating on the investment management company’s stock. Oppenheimer also issued estimates for Goldman Sachs Group’s Q1 2018 earnings at $5.34 EPS, Q2 2018 earnings at $4.72 EPS, Q3 2018 earnings at $5.25 EPS and Q4 2018 earnings at $5.85 EPS.

Several other research analysts also recently commented on GS. BMO Capital Markets decreased their price objective on Goldman Sachs Group to $221.00 and set a market perform rating on the stock in a research note on Thursday. Buckingham Research reaffirmed a neutral rating and issued a $250.00 price objective (up previously from $243.00) on shares of Goldman Sachs Group in a research note on Wednesday, October 18th. Royal Bank of Canada raised their price objective on Goldman Sachs Group to $265.00 and gave the stock a sector perform rating in a research note on Thursday. Keefe, Bruyette & Woods reiterated a hold rating on shares of Goldman Sachs Group in a research report on Tuesday, January 9th. Finally, Citigroup reiterated a neutral rating and set a $250.00 target price (up previously from $225.00) on shares of Goldman Sachs Group in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $254.67.

Goldman Sachs Group (GS) traded up $5.11 during midday trading on Thursday, hitting $256.12. The stock had a trading volume of 4,640,000 shares, compared to its average volume of 3,000,000. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. Goldman Sachs Group has a 1 year low of $209.62 and a 1 year high of $262.14. The company has a market capitalization of $96,610.00, a P/E ratio of 29.54, a P/E/G ratio of 0.93 and a beta of 1.47.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 17th. The investment management company reported $5.68 EPS for the quarter, topping the consensus estimate of $4.90 by $0.78. Goldman Sachs Group had a return on equity of 11.47% and a net margin of 13.36%. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter last year, the company earned $5.08 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. analysts forecast that Goldman Sachs Group will post 21.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, February 28th. Goldman Sachs Group’s dividend payout ratio is presently 34.60%.

In other Goldman Sachs Group news, insider David M. Solomon sold 12,707 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $237.94, for a total transaction of $3,023,503.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $238.38, for a total value of $4,956,873.72. The disclosure for this sale can be found here. Insiders have sold a total of 97,833 shares of company stock valued at $23,309,552 in the last 90 days. 2.57% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinnacle Financial Partners Inc. purchased a new position in shares of Goldman Sachs Group in the 2nd quarter worth approximately $849,000. Rational Advisors LLC boosted its holdings in shares of Goldman Sachs Group by 201.6% in the 2nd quarter. Rational Advisors LLC now owns 3,450 shares of the investment management company’s stock worth $765,000 after purchasing an additional 2,306 shares during the period. Donaldson Capital Management LLC boosted its holdings in shares of Goldman Sachs Group by 1.6% in the 2nd quarter. Donaldson Capital Management LLC now owns 4,417 shares of the investment management company’s stock worth $980,000 after purchasing an additional 69 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of Goldman Sachs Group by 5.6% in the 2nd quarter. Dupont Capital Management Corp now owns 60,348 shares of the investment management company’s stock worth $13,391,000 after purchasing an additional 3,186 shares during the period. Finally, LMR Partners LLP boosted its holdings in shares of Goldman Sachs Group by 430.6% in the 2nd quarter. LMR Partners LLP now owns 5,386 shares of the investment management company’s stock worth $1,195,000 after purchasing an additional 4,371 shares during the period. Institutional investors and hedge funds own 73.28% of the company’s stock.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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