The Goldman Sachs Group (NYSE:GS) Price Target Raised to $1,130.00

The Goldman Sachs Group (NYSE:GS) had its price objective raised by Keefe, Bruyette & Woods from $1,050.00 to $1,130.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

A number of other analysts have also commented on GS. HSBC lifted their target price on The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Morgan Stanley set a $1,145.00 price target on The Goldman Sachs Group in a report on Wednesday. Dbs Bank increased their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Finally, Daiwa Securities Group boosted their target price on The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $1,061.43.

The Goldman Sachs Group Trading Down 2.7%

NYSE:GS opened at $1,066.28 on Wednesday. The stock has a market cap of $314.56 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.24 and a beta of 1.30. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 2.83. The company’s 50 day moving average price is $1,035.20 and its 200-day moving average price is $945.44. The Goldman Sachs Group has a 52 week low of $691.88 and a 52 week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the business earned $10.91 EPS. On average, equities research analysts forecast that The Goldman Sachs Group will post 64.34 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 27.78%.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alex S. Golten sold 1,116 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the sale, the insider owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. This trade represents a 30.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,566 shares of company stock valued at $30,712,978 over the last 90 days. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in The Goldman Sachs Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock valued at $25,503,685,000 after buying an additional 418,820 shares during the period. State Street Corp increased its holdings in The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock valued at $17,197,444,000 after buying an additional 394,198 shares during the last quarter. Fisher Asset Management LLC raised its position in The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after acquiring an additional 110,134 shares during the period. Geode Capital Management LLC boosted its stake in shares of The Goldman Sachs Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock worth $5,896,795,000 after acquiring an additional 45,266 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of The Goldman Sachs Group by 8.0% during the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock worth $5,460,875,000 after acquiring an additional 476,977 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.