The Goldman Sachs Group (NYSE:GS) Price Target Raised to $790.00

The Goldman Sachs Group (NYSE:GS) had its price objective raised by Deutsche Bank Aktiengesellschaft from $725.00 to $790.00 in a research note issued to investors on Tuesday morning,MarketScreener reports. They currently have a hold rating on the investment management company’s stock.

GS has been the subject of several other reports. Citigroup upped their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. JMP Securities reaffirmed a “market perform” rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $709.13.

The Goldman Sachs Group Stock Down 0.8%

Shares of NYSE:GS opened at $779.53 on Tuesday. The Goldman Sachs Group has a 1-year low of $439.38 and a 1-year high of $825.25. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $235.98 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.63 and a beta of 1.42. The firm has a fifty day moving average price of $753.82 and a 200 day moving average price of $653.41.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the company earned $8.62 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

Insider Buying and Selling

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the transaction, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of The Goldman Sachs Group

Large investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group in the first quarter valued at $25,000. Dogwood Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group in the first quarter worth about $29,000. Godsey & Gibb Inc. increased its holdings in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, Clearstead Trust LLC bought a new stake in The Goldman Sachs Group in the second quarter valued at about $31,000. 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.