The Goldman Sachs Group (NYSE:GS) Price Target Raised to $690.00

The Goldman Sachs Group (NYSE:GS) had its target price hoisted by Keefe, Bruyette & Woods from $686.00 to $690.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

Other research analysts also recently issued research reports about the stock. HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. JMP Securities boosted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $589.19.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $626.84 on Thursday. The stock has a market cap of $196.77 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 0.66 and a beta of 1.38. The Goldman Sachs Group has a twelve month low of $372.07 and a twelve month high of $627.00. The company’s fifty day moving average is $587.22 and its 200 day moving average is $529.85. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.48 EPS. Sell-side analysts forecast that The Goldman Sachs Group will post 37.24 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.91%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Buying and Selling

In other news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $612.08, for a total value of $3,060,400.00. Following the sale, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,940 shares of company stock worth $12,656,179. 0.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GS. Quest Partners LLC increased its holdings in The Goldman Sachs Group by 6,300.0% during 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 during the last quarter. One Capital Management LLC purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $243,000. Moors & Cabot Inc. raised its holdings in shares of The Goldman Sachs Group by 3.5% in the 2nd quarter. Moors & Cabot Inc. now owns 2,637 shares of the investment management company’s stock worth $1,193,000 after purchasing an additional 88 shares during the period. Bradley Foster & Sargent Inc. CT lifted its stake in The Goldman Sachs Group by 0.5% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 7,476 shares of the investment management company’s stock valued at $3,381,000 after purchasing an additional 36 shares during the last quarter. Finally, Wealth Alliance grew its holdings in The Goldman Sachs Group by 3.5% during the second quarter. Wealth Alliance now owns 1,060 shares of the investment management company’s stock valued at $479,000 after purchasing an additional 36 shares during the period. Institutional investors own 71.21% of the company’s stock.

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.