Keefe, Bruyette & Woods Raises The Goldman Sachs Group (NYSE:GS) Price Target to $570.00

The Goldman Sachs Group (NYSE:GS) had its price objective raised by Keefe, Bruyette & Woods from $555.00 to $570.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the investment management company’s stock.

Several other brokerages also recently issued reports on GS. BMO Capital Markets boosted their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Citigroup raised their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. UBS Group lifted their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Trading Down 0.1 %

Shares of GS opened at $528.36 on Wednesday. The business’s 50-day moving average price is $498.15 and its 200 day moving average price is $469.05. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $170.38 billion, a P/E ratio of 20.63, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $540.51.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the firm posted $5.47 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts expect that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors have recently made changes to their positions in the business. SageView Advisory Group LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $505,000. Montecito Bank & Trust boosted its holdings in The Goldman Sachs Group by 2.6% in the 1st quarter. Montecito Bank & Trust now owns 2,363 shares of the investment management company’s stock valued at $987,000 after purchasing an additional 60 shares during the period. Wedmont Private Capital grew its position in The Goldman Sachs Group by 6.0% in the 1st quarter. Wedmont Private Capital now owns 3,850 shares of the investment management company’s stock worth $1,581,000 after purchasing an additional 218 shares during the last quarter. KMG Fiduciary Partners LLC increased its holdings in shares of The Goldman Sachs Group by 0.5% during the 1st quarter. KMG Fiduciary Partners LLC now owns 28,987 shares of the investment management company’s stock worth $12,108,000 after purchasing an additional 148 shares during the period. Finally, American National Bank raised its position in shares of The Goldman Sachs Group by 12.4% during the first quarter. American National Bank now owns 345 shares of the investment management company’s stock valued at $144,000 after buying an additional 38 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

About The Goldman Sachs Group

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.