The Goldman Sachs Group (NYSE:GS) Price Target Raised to $802.00

The Goldman Sachs Group (NYSE:GSFree Report) had its price target hoisted by HSBC from $742.00 to $802.00 in a research report released on Friday,MarketScreener reports.

Several other research firms also recently issued reports on GS. Daiwa Securities Group lifted their price target on shares of The Goldman Sachs Group from $927.00 to $940.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. BNP Paribas Exane lifted their target price on shares of The Goldman Sachs Group from $775.00 to $970.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Bank of America lifted their target price on The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Jefferies Financial Group increased their target price on shares of The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $971.00 to $1,000.00 and gave the stock a “market perform” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $916.86.

Check Out Our Latest Stock Report on GS

The Goldman Sachs Group Trading Up 4.4%

GS stock opened at $929.47 on Friday. The stock has a market capitalization of $278.77 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.14 and a beta of 1.34. The Goldman Sachs Group has a fifty-two week low of $439.38 and a fifty-two week high of $984.70. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.65. The business has a fifty day moving average price of $909.26 and a 200 day moving average price of $817.45.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.30 billion. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.19%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $11.95 EPS. Analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 2nd will be given a dividend of $4.50 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. This represents a $18.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.09%.

Insider Transactions at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 4,863 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $923.75, for a total value of $4,492,196.25. Following the completion of the sale, the chief accounting officer owned 10,301 shares of the company’s stock, valued at approximately $9,515,548.75. The trade was a 32.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 9,589 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the completion of the transaction, the insider owned 18,533 shares in the company, valued at $17,189,542.83. This represents a 34.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 87,513 shares of company stock valued at $83,718,401. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in GS. Dagco Inc. bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $25,000. Harbor Capital Advisors Inc. purchased a new position in The Goldman Sachs Group during the third quarter valued at $26,000. Manning & Napier Advisors LLC grew its stake in shares of The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 23 shares during the period. First PREMIER Bank bought a new position in shares of The Goldman Sachs Group in the third quarter worth approximately $28,000. Finally, Corundum Trust Company INC bought a new position in The Goldman Sachs Group in the 3rd quarter worth $29,000. 71.21% of the stock is owned by institutional investors.

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The Goldman Sachs Group Company Profile

(Get Free Report)

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.

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