Goldman Sachs Group Inc. (GS) Given a $176.00 Price Target by JPMorgan Chase & Co. Analysts
Goldman Sachs Group Inc. (NYSE:GS) received a $176.00 target price from JPMorgan Chase & Co. in a research note issued to investors on Thursday. The brokerage currently has a a “buy” rating on the investment management company’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 5.37% from the company’s current price.
Several other research firms also recently issued reports on GS. Wells Fargo & Co. reissued a “hold” rating on shares of Goldman Sachs Group in a research report on Saturday, July 9th. Deutsche Bank AG reissued a “hold” rating on shares of Goldman Sachs Group in a research report on Sunday, June 26th. Oppenheimer Holdings Inc. lifted their price target on shares of Goldman Sachs Group from $222.00 to $223.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. BMO Capital Markets reissued an “outperform” rating and issued a $214.00 price target (up previously from $197.00) on shares of Goldman Sachs Group in a research report on Friday, July 22nd. Finally, Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $180.41.
Goldman Sachs Group (NYSE:GS) opened at 167.03 on Thursday. The stock has a 50 day moving average of $166.10 and a 200 day moving average of $158.40. The company has a market capitalization of $71.22 billion, a price-to-earnings ratio of 15.83 and a beta of 1.68. Goldman Sachs Group has a 12 month low of $138.20 and a 12 month high of $199.90.
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Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 19th. The investment management company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.72. The company earned $7.93 billion during the quarter, compared to analyst estimates of $7.58 billion. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. During the same quarter in the previous year, the business posted $1.98 EPS. Equities analysts anticipate that Goldman Sachs Group will post $14.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 1st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, August 30th. Goldman Sachs Group’s dividend payout ratio (DPR) is 24.60%.
In other Goldman Sachs Group news, EVP Edith W. Cooper sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $166.11, for a total value of $2,325,540.00. Following the completion of the sale, the executive vice president now owns 33,634 shares of the company’s stock, valued at $5,586,943.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total value of $452,880.00. Following the completion of the sale, the insider now directly owns 13,075 shares of the company’s stock, valued at approximately $2,222,750. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Evercore Wealth Management LLC raised its stake in shares of Goldman Sachs Group by 10.7% in the second quarter. Evercore Wealth Management LLC now owns 2,180 shares of the investment management company’s stock valued at $324,000 after buying an additional 210 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Goldman Sachs Group by 26.3% in the second quarter. Macquarie Group Ltd. now owns 112,955 shares of the investment management company’s stock valued at $16,783,000 after buying an additional 23,529 shares in the last quarter. Carnick & Kubik Group LLC purchased a new stake in shares of Goldman Sachs Group during the second quarter valued at about $254,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Goldman Sachs Group during the second quarter valued at about $2,318,000. Finally, Kentucky Retirement Systems purchased a new stake in shares of Goldman Sachs Group during the second quarter valued at about $4,881,000. 70.77% of the stock is owned by institutional investors and hedge funds.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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