UBS Group Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $1,010.00

The Goldman Sachs Group (NYSE:GS) had its target price cut by UBS Group from $1,150.00 to $1,010.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

GS has been the subject of a number of other research reports. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. Wells Fargo & Company lowered their price target on The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating on the stock in a report on Friday, September 25th. Morgan Stanley set a $1,145.00 price target on The Goldman Sachs Group in a research report on Wednesday, July 15th. HSBC increased their price objective on The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a “hold” rating in a research note on Monday, September 28th. Finally, Barclays lifted their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and an average target price of $1,055.60.

The Goldman Sachs Group Stock Down 1.1%

GS stock opened at $887.36 on Monday. The Goldman Sachs Group has a 52-week low of $740.01 and a 52-week high of $1,153.99. The company’s 50 day simple moving average is $995.67 and its 200-day simple moving average is $987.40. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $258.37 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.98 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the business posted $10.91 EPS. The company’s revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts anticipate that The Goldman Sachs Group will post 67.92 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st were paid a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 1st. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio is currently 30.87%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GS. Venture Visionary Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 11.3% during the third quarter. Venture Visionary Partners LLC now owns 5,720 shares of the investment management company’s stock worth $5,150,000 after buying an additional 583 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in shares of The Goldman Sachs Group by 13.3% in the third quarter. Elevation Wealth Partners LLC now owns 340 shares of the investment management company’s stock valued at $306,000 after acquiring an additional 40 shares during the period. Canandaigua National Trust Co of Florida acquired a new stake in shares of The Goldman Sachs Group in the third quarter worth $782,000. Rhodes Investment Advisors Inc. ADV grew its stake in shares of The Goldman Sachs Group by 43.6% in the third quarter. Rhodes Investment Advisors Inc. ADV now owns 636 shares of the investment management company’s stock worth $573,000 after acquiring an additional 193 shares during the last quarter. Finally, Echo45 Advisors LLC increased its position in The Goldman Sachs Group by 43.0% during the third quarter. Echo45 Advisors LLC now owns 396 shares of the investment management company’s stock worth $357,000 after acquiring an additional 119 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman’s recent quarterly results substantially exceeded expectations, with earnings per share of $20.98 and revenue of $20.34 billion, up 39.4% year over year. The firm’s valuation following the selloff is being viewed by some analysts as a potential value opportunity. Goldman Sachs: Selloff Makes Stock a Value Play
• Positive Sentiment: Goldman appointed star banker George Dunlevie to co-lead its technology banking business, a move that could strengthen coverage of the sector and support future advisory and capital-markets revenue. Star Goldman Sachs Banker to Co-Lead Tech Banking
• Neutral Sentiment: Goldman forecasts that artificial-intelligence investment could help drive a 27% increase in S&P 500 profits, potentially supporting market activity and demand for the firm’s trading, investment-banking and asset-management services. Goldman Sachs Forecasts S&P 500 Profit Growth
• Neutral Sentiment: Goldman said its systems were not affected by the EY data breach and that client assets remain safe. However, its wealth-management business was among the affected clients, creating potential reputational and compliance concerns. Goldman Sachs Client Data Exposed in EY Data Breach
• Negative Sentiment: Citi has overtaken Goldman in global IPO underwriting rankings after winning several major listings, raising concerns that Goldman could lose future equity-capital-markets mandates and related fees. Goldman Sachs IPO Underwriting Ranking
• Negative Sentiment: BMO lowered its GS price target to $970 from $972 and retained a market-perform rating. Goldman’s indication that it is not yet ready to raise its 14%–16% through-the-cycle return-on-equity target also limits the near-term bullish case. BMO Cuts Goldman Sachs Price Target
• Negative Sentiment: Analysts have questioned whether Goldman has the necessary earnings-momentum indicators for another upside surprise in its upcoming report, adding caution ahead of earnings.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.