The Goldman Sachs Group (NYSE:GS) Price Target Raised to $614.00 at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its target price upped by Oppenheimer from $577.00 to $614.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the investment management company’s stock.

A number of other research analysts have also commented on GS. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. JMP Securities boosted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Citigroup upped their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, UBS Group raised their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $528.50 on Wednesday. The firm’s 50-day moving average is $498.15 and its 200-day moving average is $469.46. The company has a market cap of $170.42 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week 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 analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $5.47 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter valued at $1,903,374,000. AMF Tjanstepension AB increased its position in The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after purchasing an additional 743,402 shares during the period. 1832 Asset Management L.P. raised its holdings in The Goldman Sachs Group by 7,932.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in The Goldman Sachs Group by 878.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after purchasing an additional 356,512 shares during the period. Finally, Swedbank AB bought a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $137,134,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.