Barclays Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $565.00

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by Barclays from $493.00 to $565.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the investment management company’s stock.

GS has been the subject of a number of other reports. Oppenheimer upped their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an outperform rating in a research note on Tuesday. JMP Securities increased their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a market outperform rating in a research report on Tuesday, April 9th. HSBC increased their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Bank of America increased their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, Evercore ISI increased their price target on shares of The Goldman Sachs Group from $440.00 to $475.00 and gave the stock an outperform rating in a research report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $480.44.

The Goldman Sachs Group Stock Performance

GS stock opened at $484.77 on Tuesday. The Goldman Sachs Group has a fifty-two week low of $289.36 and a fifty-two week high of $509.48. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $156.32 billion, a P/E ratio of 18.93, a PEG ratio of 1.01 and a beta of 1.37. The company has a 50-day simple moving average of $463.11 and a 200 day simple moving average of $420.75.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insider Activity at The Goldman Sachs Group

In related news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The disclosure for this sale can be found here. Insiders sold 4,018,500 shares of company stock valued at $34,342,615 over the last ninety days. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Several institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its position in shares of The Goldman Sachs Group by 4.2% in the 3rd quarter. American Century Companies Inc. now owns 80,758 shares of the investment management company’s stock valued at $26,131,000 after purchasing an additional 3,247 shares during the period. Nordea Investment Management AB grew its position in shares of The Goldman Sachs Group by 31.7% in the 4th quarter. Nordea Investment Management AB now owns 176,230 shares of the investment management company’s stock valued at $67,889,000 after purchasing an additional 42,409 shares during the period. BKM Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $55,000. Bruce G. Allen Investments LLC acquired a new position in The Goldman Sachs Group during the 4th quarter worth approximately $81,000. Finally, IVC Wealth Advisors LLC acquired a new position in The Goldman Sachs Group during the 4th quarter worth approximately $226,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.