Goldman Sachs Group Inc. (GS) Price Target Raised to $195.00
Goldman Sachs Group Inc. (NYSE:GS) had its price target increased by equities research analysts at Citigroup Inc. from $180.00 to $195.00 in a report issued on Monday. The firm currently 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 research firms have also commented on GS. Vetr lowered shares of Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $165.45 price target for the company. in a research report on Thursday, September 8th. JPMorgan Chase & Co. set a $176.00 target price on shares of Goldman Sachs Group and gave the company a “buy” rating in a research report on Thursday, September 22nd. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research report on Tuesday, September 20th. Nomura reiterated a “buy” rating and issued a $197.00 target price 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 issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $181.82.
Shares of Goldman Sachs Group (NYSE:GS) traded up 0.85% during midday trading on Monday, hitting $171.27. 1,552,734 shares of the stock were exchanged. The stock has a market cap of $73.03 billion, a P/E ratio of 16.24 and a beta of 1.61. The stock’s 50-day moving average price is $166.41 and its 200 day moving average price is $159.29. Goldman Sachs Group has a one year low of $138.20 and a one year high of $199.90.
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Goldman Sachs Group (NYSE:GS) last released its quarterly 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 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 prior year, the firm earned $1.98 earnings per share. On average, analysts anticipate that Goldman Sachs Group will post $14.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 1st were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a yield of 1.53%. Goldman Sachs Group’s dividend payout ratio is currently 24.60%.
In other Goldman Sachs Group news, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the transaction, the executive vice president now owns 33,634 shares in the company, valued at $5,586,943.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total value of $452,880.00. Following the transaction, the insider now owns 13,075 shares in the company, valued at approximately $2,222,750. The disclosure for this sale can be found here. 2.61% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Pictet Asset Management Ltd. boosted its stake in Goldman Sachs Group by 0.6% in the first quarter. Pictet Asset Management Ltd. now owns 212,227 shares of the investment management company’s stock valued at $31,734,000 after buying an additional 1,200 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Goldman Sachs Group by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 57,004 shares of the investment management company’s stock valued at $8,948,000 after buying an additional 18,789 shares in the last quarter. Gardner Lewis Asset Management L P boosted its stake in Goldman Sachs Group by 11.7% in the first quarter. Gardner Lewis Asset Management L P now owns 15,610 shares of the investment management company’s stock valued at $2,450,000 after buying an additional 1,635 shares in the last quarter. Pegasus Partners Ltd. acquired a new stake in Goldman Sachs Group during the first quarter valued at $712,000. Finally, Kiltearn Partners LLP boosted its stake in Goldman Sachs Group by 35.7% in the first quarter. Kiltearn Partners LLP now owns 1,402,853 shares of the investment management company’s stock valued at $220,220,000 after buying an additional 369,000 shares in the last quarter. Institutional investors own 70.77% of the company’s stock.
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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