Barclays Raises The Goldman Sachs Group (NYSE:GS) Price Target to $588.00

The Goldman Sachs Group (NYSE:GS) had its price objective raised by Barclays from $565.00 to $588.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

Several other brokerages also recently weighed in on GS. Morgan Stanley increased their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday. JMP Securities raised their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Bank of America raised their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Trading Down 0.1 %

NYSE GS opened at $528.36 on Wednesday. The firm’s fifty day moving average is $498.15 and its two-hundred day moving average is $469.05. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $170.38 billion, a PE ratio of 20.63, a P/E/G ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the firm posted $5.47 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

Insider Activity

In other news, insider Brian J. Lee sold 2,000 shares of the firm’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 transaction, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of large investors have recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group in the second quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after acquiring an additional 63 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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.