Goldman Sachs Group (NYSE:GS) had its price target upped by BMO Capital Markets from $261.00 to $276.00 in a research report released on Wednesday, MarketBeat reports. They currently have a market perform rating on the investment management company’s stock. The analysts noted that the move was a valuation call.
Several other research firms have also commented on GS. Wells Fargo & Co reaffirmed a buy rating on shares of Goldman Sachs Group in a research note on Thursday, September 20th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $285.00 price objective on shares of Goldman Sachs Group in a research note on Monday, September 10th. Wolfe Research initiated coverage on shares of Goldman Sachs Group in a research note on Tuesday, September 25th. They set an outperform rating for the company. Keefe, Bruyette & Woods lowered their target price on shares of Goldman Sachs Group from $260.00 to $255.00 and set a hold rating for the company in a research note on Wednesday, July 18th. Finally, Credit Suisse Group raised shares of Goldman Sachs Group from a neutral rating to an outperform rating in a research note on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $281.84.
NYSE GS opened at $226.96 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.63. The firm has a market cap of $85.69 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.74 and a beta of 1.28. Goldman Sachs Group has a 52 week low of $210.95 and a 52 week high of $275.31.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, topping the consensus estimate of $5.38 by $0.90. The company had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.43 billion. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 13.57%. Goldman Sachs Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.02 earnings per share. Analysts predict that Goldman Sachs Group will post 25.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, November 29th. Goldman Sachs Group’s dividend payout ratio is currently 16.19%.
In other news, insider David M. Solomon sold 8,488 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total transaction of $2,019,464.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.57% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Goldman Sachs Group by 7,719.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after acquiring an additional 23,157 shares in the last quarter. Zions Bancorporation bought a new stake in shares of Goldman Sachs Group in the second quarter valued at about $109,000. First Mercantile Trust Co. bought a new stake in shares of Goldman Sachs Group in the second quarter valued at about $110,000. Squar Milner Financial Services LLC bought a new stake in shares of Goldman Sachs Group in the second quarter valued at about $157,000. Finally, Canton Hathaway LLC bought a new stake in shares of Goldman Sachs Group in the third quarter valued at about $174,000. 71.04% of the stock is owned by hedge funds and other institutional investors.
About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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