The Goldman Sachs Group (NYSE:GS) Price Target Raised to $900.00

The Goldman Sachs Group (NYSE:GS) had its target price hoisted by Royal Bank Of Canada from $843.00 to $900.00 in a research note released on Friday morning,MarketScreener reports. The firm currently has a sector perform rating on the investment management company’s stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. BNP Paribas Exane lifted their price target on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. HSBC boosted their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Finally, BMO Capital Markets started coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $785.00 target price for the company. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $787.06.

The Goldman Sachs Group Stock Performance

GS stock opened at $887.90 on Friday. The stock’s 50 day simple moving average is $800.00 and its 200 day simple moving average is $745.07. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The Goldman Sachs Group has a 12-month low of $439.38 and a 12-month high of $919.10. The stock has a market capitalization of $266.31 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The business had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same quarter last year, the company earned $8.40 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 1.8%. The Goldman Sachs Group’s payout ratio is presently 32.50%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC grew its holdings in The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after buying an additional 58 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of The Goldman Sachs Group by 93.0% during the first quarter. Vestmark Advisory Solutions Inc. now owns 12,174 shares of the investment management company’s stock valued at $6,651,000 after buying an additional 5,867 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of The Goldman Sachs Group by 93.3% during the first quarter. Kovitz Investment Group Partners LLC now owns 38,522 shares of the investment management company’s stock valued at $21,045,000 after buying an additional 18,592 shares during the last quarter. Finally, Trivium Point Advisory LLC boosted its position in shares of The Goldman Sachs Group by 14.9% during the first quarter. Trivium Point Advisory LLC now owns 924 shares of the investment management company’s stock worth $505,000 after acquiring an additional 120 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Company Profile

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.