The Goldman Sachs Group (NYSE:GS – Free Report) had its price target reduced by Oppenheimer from $677.00 to $639.00 in a research note published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the investment management company’s stock.
Several other brokerages also recently commented on GS. JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, JMP Securities raised their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $558.38.
The Goldman Sachs Group Price Performance
The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its quarterly earnings data 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 net margin of 9.89% and a return on equity of 11.39%. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.47 EPS. Research analysts predict that The Goldman Sachs Group will post 37.06 earnings per share for the current year.
The Goldman Sachs Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 2nd were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.
Insider Buying and Selling
In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 16.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the transaction, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at $72,015,903.53. The trade was a 5.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,940 shares of company stock worth $13,717,979 in the last ninety days. 0.54% of the stock is owned by insiders.
Hedge Funds Weigh In On The Goldman Sachs Group
Several hedge funds have recently made changes to their positions in GS. Waddell & Associates LLC raised its stake in The Goldman Sachs Group by 2.1% in the third quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock worth $444,000 after buying an additional 18 shares in the last quarter. Wescott Financial Advisory Group LLC raised its position in shares of The Goldman Sachs Group by 0.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock worth $1,346,000 after acquiring an additional 18 shares in the last quarter. First Pacific Financial lifted its stake in shares of The Goldman Sachs Group by 0.6% in the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after purchasing an additional 20 shares during the period. Krane Funds Advisors LLC boosted its position in shares of The Goldman Sachs Group by 1.7% during the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after purchasing an additional 20 shares in the last quarter. Finally, Tanager Wealth Management LLP grew its stake in The Goldman Sachs Group by 3.6% in the third quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock worth $282,000 after purchasing an additional 20 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.
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.
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