Barclays Raises The Goldman Sachs Group (NYSE:GS) Price Target to $713.00

The Goldman Sachs Group (NYSE:GSFree Report) had its target price increased by Barclays from $588.00 to $713.00 in a report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the investment management company’s stock.

GS has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Oppenheimer cut their price target on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, JMP Securities lifted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $569.31.

Check Out Our Latest Stock Report on The Goldman Sachs Group

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $579.48 on Monday. The stock has a market capitalization of $181.90 billion, a P/E ratio of 17.00, a PEG ratio of 0.85 and a beta of 1.38. The business has a 50 day simple moving average of $581.68 and a two-hundred day simple moving average of $523.88. The Goldman Sachs Group has a 12 month low of $372.07 and a 12 month high of $612.73. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the company earned $5.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts predict that The Goldman Sachs Group will post 37.06 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 2nd were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.07%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on 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 completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth $26,000. Headlands Technologies LLC acquired a new position in shares of The Goldman Sachs Group during the second quarter worth about $27,000. Quest Partners LLC raised its holdings in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. West Branch Capital LLC acquired a new position in The Goldman Sachs Group during the 3rd quarter worth approximately $30,000. Finally, DT Investment Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 110.0% in the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for The Goldman Sachs Group (NYSE:GS)

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