The Goldman Sachs Group (NYSE:GS) Stock Rating Raised to Strong-Buy at TD Cowen

TD Cowen upgraded shares of The Goldman Sachs Group (NYSE:GS) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks reports.

Several other equities analysts have also recently weighed in on the company. HSBC raised their price objective on The Goldman Sachs Group from $995.00 to $1,007.00 and gave the company a “hold” rating in a research note on Monday, September 28th. Barclays lifted their price objective on shares of 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. Weiss Ratings upgraded The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Loop Capital set a $1,050.00 price target on The Goldman Sachs Group in a report on Thursday. Finally, Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,055.09.

The Goldman Sachs Group Price Performance

GS stock opened at $882.26 on Wednesday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The business has a 50-day simple moving average of $992.83 and a two-hundred day simple moving average of $987.89. The company has a market capitalization of $256.89 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29. The Goldman Sachs Group has a 52-week low of $740.01 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the company earned $10.91 earnings per share. Research analysts expect that The Goldman Sachs Group will post 67.48 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Breakwater Capital Group boosted its holdings in The Goldman Sachs Group by 10.6% during the 3rd quarter. Breakwater Capital Group now owns 1,046 shares of the investment management company’s stock valued at $942,000 after acquiring an additional 100 shares during the period. LifeGoal Investments LLC bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter worth approximately $241,000. Mn Services Vermogensbeheer B.V. raised its holdings in shares of The Goldman Sachs Group by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 87,249 shares of the investment management company’s stock valued at $78,556,000 after acquiring an additional 1,300 shares in the last quarter. Diversified Management Inc. lifted its stake in The Goldman Sachs Group by 4.7% in the third quarter. Diversified Management Inc. now owns 756 shares of the investment management company’s stock worth $681,000 after acquiring an additional 34 shares during the period. Finally, Acropolis Investment Management LLC lifted its stake in The Goldman Sachs Group by 3.0% in the third quarter. Acropolis Investment Management LLC now owns 650 shares of the investment management company’s stock worth $585,000 after acquiring an additional 19 shares during the period. 71.21% of the stock is owned by institutional investors.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: TD Cowen upgraded GS to “strong buy” and set a $1,050 price target, implying roughly 19% upside from the referenced $882.26 price. The upgrade is the clearest positive catalyst for the stock and suggests the recent selloff has created an attractive entry point.
• Positive Sentiment: TD Cowen’s bullish view follows Goldman’s strong operating performance, including its latest quarterly earnings beat and 39.4% year-over-year revenue growth. Investors are also looking ahead to third-quarter results and key metrics that could support the recovery thesis. Seeking Clues to Goldman Q3 Earnings
• Neutral Sentiment: Goldman reportedly plans more than $500 million in special equity bonuses for senior executives under a five-year performance scheme. The awards recognize outperformance versus rivals, but their size could prompt investor scrutiny over compensation and dilution. Goldman Executives Special Bonuses
• Negative Sentiment: Higher bond yields have pressured financial stocks and contributed to GS losing most of its year-to-date gains, as rising rates can weigh on equity valuations and market activity. Goldman Stock and Rising Bond Yields
• Negative Sentiment: Citi has reportedly moved ahead of Goldman in global IPO underwriting rankings after winning several major listings, raising concerns about Goldman’s leadership and future deal allocation in equity capital markets. Goldman IPO Underwriting Competition

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.