The Goldman Sachs Group (NYSE:GS) Given New $575.00 Price Target at Bank of America

The Goldman Sachs Group (NYSE:GS) had its target price lifted by Bank of America from $563.00 to $575.00 in a report released on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the investment management company’s stock.

A number of other analysts also recently weighed in on GS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Barclays raised their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. UBS Group boosted their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $529.86 on Wednesday. The business has a 50 day moving average of $496.53 and a 200 day moving average of $467.83. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $540.51. The company has a market cap of $170.86 billion, a PE ratio of 20.69, a P/E/G ratio of 0.77 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate 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 9.36% and a return on equity of 10.56%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.47 EPS. As a group, equities research analysts forecast that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.26%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Institutional Trading of The Goldman Sachs Group

Large investors have recently modified their holdings of the company. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $26,000. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group in the second quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in The Goldman Sachs Group in the second quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in 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 in the last quarter. Finally, Quest Partners LLC raised its stake in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.