The Goldman Sachs Group (NYSE:GS) Given New $870.00 Price Target at Keefe, Bruyette & Woods

The Goldman Sachs Group (NYSE:GS) had its price target hoisted by Keefe, Bruyette & Woods from $850.00 to $870.00 in a report published on Friday morning,Benzinga reports. The firm currently has a market perform rating on the investment management company’s stock.

A number of other analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada reissued a “neutral” rating and issued a $843.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. JMP Securities reissued a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $770.73.

The Goldman Sachs Group Stock Down 1.0%

The Goldman Sachs Group stock opened at $750.71 on Friday. The stock has a market capitalization of $227.25 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.42. The Goldman Sachs Group has a twelve month low of $439.38 and a twelve month high of $825.25. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The company has a 50 day moving average of $765.25 and a 200-day moving average of $669.67.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.40 earnings per share. On average, equities research analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Insider Activity at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 over the last three months. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently modified their holdings of GS. Brighton Jones LLC grew its stake in shares of The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after acquiring an additional 508 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after buying an additional 58 shares in the last quarter. GAMMA Investing LLC grew its stake in The Goldman Sachs Group by 17.1% during the first quarter. GAMMA Investing LLC now owns 7,279 shares of the investment management company’s stock worth $3,977,000 after buying an additional 1,062 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in The Goldman Sachs Group by 53.4% during the first quarter. Cornerstone Wealth Management LLC now owns 1,434 shares of the investment management company’s stock worth $783,000 after buying an additional 499 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in The Goldman Sachs Group by 7.4% during the first quarter. Johnson Investment Counsel Inc. now owns 4,125 shares of the investment management company’s stock worth $2,254,000 after buying an additional 284 shares in the last quarter. 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.