The Goldman Sachs Group (NYSE:GS) Price Target Raised to $565.00

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by Barclays from $493.00 to $565.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the investment management company’s stock.

GS has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a market perform rating in a research note on Tuesday, April 16th. UBS Group upped their price objective on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. upped their price objective on The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an overweight rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an outperform rating in a research note on Thursday, June 27th. Finally, Evercore ISI increased their price target on The Goldman Sachs Group from $440.00 to $475.00 and gave the company an outperform rating in a research note on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of Moderate Buy and an average target price of $480.44.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $486.21 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The business has a 50-day simple moving average of $462.51 and a two-hundred day simple moving average of $420.06. The stock has a market cap of $156.78 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.01 and a beta of 1.37. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $509.48.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The firm had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.79 earnings per share. On average, analysts expect that The Goldman Sachs Group will post 36.62 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.47%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

Insider Activity

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian J. Lee sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Insiders sold 4,018,500 shares of company stock valued at $34,342,615 in the last ninety days. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Street Advisors Inc. NC increased its holdings in The Goldman Sachs Group by 2,203.7% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 30,178 shares of the investment management company’s stock worth $13,650,000 after purchasing an additional 28,868 shares during the period. Davis Investment Partners LLC increased its holdings in The Goldman Sachs Group by 8.3% during the 2nd quarter. Davis Investment Partners LLC now owns 1,276 shares of the investment management company’s stock worth $612,000 after purchasing an additional 98 shares during the period. Tyche Wealth Partners LLC increased its holdings in The Goldman Sachs Group by 9.1% during the 2nd quarter. Tyche Wealth Partners LLC now owns 3,748 shares of the investment management company’s stock worth $1,695,000 after purchasing an additional 313 shares during the period. Everpar Advisors LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter worth $313,000. Finally, World Equity Group Inc. increased its holdings in The Goldman Sachs Group by 1.5% during the 2nd quarter. World Equity Group Inc. now owns 2,115 shares of the investment management company’s stock worth $957,000 after purchasing an additional 31 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

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.