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

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

Several other research firms also recently weighed in on GS. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of 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. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, UBS Group restated a “neutral” rating and set a $610.00 target price on shares of The Goldman Sachs Group in a research report on Monday. Eight research 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 an average price target of $569.31.

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The Goldman Sachs Group Price Performance

GS stock opened at $579.48 on Monday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $181.90 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The company’s fifty day moving average price is $581.68 and its 200-day moving average price is $523.88. The Goldman Sachs Group has a one year low of $372.07 and a one year high of $612.73.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group will post 37.06 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,940 shares of company stock valued at $13,717,979 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of The Goldman Sachs Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Procyon Advisors LLC grew its position in shares of The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after acquiring an additional 43 shares during the period. Brookstone Capital Management boosted its position in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after purchasing an additional 761 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at approximately $5,529,000. Principal Financial Group Inc. increased its position in shares of The Goldman Sachs Group by 2.1% in the third quarter. Principal Financial Group Inc. now owns 364,276 shares of the investment management company’s stock valued at $180,357,000 after buying an additional 7,644 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after buying an additional 161,133 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

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

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