Citigroup Inc. Boosts Goldman Sachs Group Inc. (GS) Price Target to $195.00
Goldman Sachs Group Inc. (NYSE:GS) had its price target boosted by equities research analysts at Citigroup Inc. from $180.00 to $195.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the investment management company’s stock. Citigroup Inc.’s price target indicates a potential upside of 14.82% from the company’s current price.
Several other brokerages also recently commented on GS. Vetr downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $165.45 target price on the stock. in a report on Thursday, September 8th. JPMorgan Chase & Co. set a $176.00 target price on Goldman Sachs Group and gave the stock a “buy” rating in a report on Thursday, September 22nd. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a report on Tuesday, September 20th. Nomura restated a “buy” rating and issued a $197.00 price objective on shares of Goldman Sachs Group in a research report on Thursday, September 29th. Finally, TheStreet upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $181.82.
Shares of Goldman Sachs Group (NYSE:GS) traded up 0.71% during trading on Monday, hitting $171.04. The stock had a trading volume of 1,718,640 shares. Goldman Sachs Group has a 52 week low of $138.20 and a 52 week high of $199.90. The stock has a market capitalization of $72.93 billion, a price-to-earnings ratio of 16.21 and a beta of 1.61. The stock’s 50 day moving average is $166.41 and its 200 day moving average is $159.29.
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Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.00 by $0.72. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.58 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. During the same period in the previous year, the business earned $1.98 EPS. On average, equities research analysts expect that Goldman Sachs Group will post $14.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 1st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, August 30th. Goldman Sachs Group’s payout ratio is presently 24.60%.
In other news, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the completion of the transaction, the executive vice president now directly owns 33,634 shares in the company, valued at approximately $5,586,943.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $452,880.00. Following the transaction, the insider now owns 13,075 shares of the company’s stock, valued at $2,222,750. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of GS. Thomas J. Herzfeld Advisors Inc. acquired a new position in Goldman Sachs Group during the second quarter worth approximately $102,000. Nelson Roberts Investment Advisors LLC boosted its stake in shares of Goldman Sachs Group by 26.8% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 710 shares of the investment management company’s stock worth $105,000 after buying an additional 150 shares during the last quarter. CKW Financial Group boosted its stake in shares of Goldman Sachs Group by 33.3% in the second quarter. CKW Financial Group now owns 800 shares of the investment management company’s stock worth $119,000 after buying an additional 200 shares during the last quarter. Cedar Wealth Management LLC boosted its stake in shares of Goldman Sachs Group by 42.9% in the second quarter. Cedar Wealth Management LLC now owns 946 shares of the investment management company’s stock worth $141,000 after buying an additional 284 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of Goldman Sachs Group by 0.5% in the second quarter. Chicago Partners Investment Group LLC now owns 1,042 shares of the investment management company’s stock worth $155,000 after buying an additional 5 shares during the last quarter. Institutional investors own 70.77% of the company’s stock.
About Goldman Sachs Group
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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