The Goldman Sachs Group (NYSE:GS) Price Target Raised to $890.00

The Goldman Sachs Group (NYSE:GS) had its price target increased by Dbs Bank from $800.00 to $890.00 in a research report sent to investors on Thursday,MarketScreener reports. Dbs Bank currently has a buy rating on the investment management company’s stock.

GS has been the subject of a number of other reports. UBS Group increased their target price on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Evercore ISI upped their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $750.00 price objective (up previously from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Finally, Morgan Stanley decreased their target price on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $786.00.

The Goldman Sachs Group Trading Down 1.9%

The Goldman Sachs Group stock opened at $790.56 on Thursday. The Goldman Sachs Group has a 1 year low of $439.38 and a 1 year high of $841.28. The firm’s 50 day moving average price is $785.07 and its 200-day moving average price is $710.58. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The stock has a market cap of $237.11 billion, a P/E ratio of 16.06, a PEG ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The firm had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The Goldman Sachs Group’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.40 earnings per share. On average, equities analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.50%.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in the stock. Gilliland Jeter Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 3.5% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 388 shares of the investment management company’s stock valued at $309,000 after buying an additional 13 shares during the last quarter. EWA LLC lifted its position in The Goldman Sachs Group by 2.2% during the third quarter. EWA LLC now owns 612 shares of the investment management company’s stock valued at $488,000 after acquiring an additional 13 shares during the last quarter. Carrera Capital Advisors boosted its stake in The Goldman Sachs Group by 3.5% in the third quarter. Carrera Capital Advisors now owns 385 shares of the investment management company’s stock valued at $306,000 after acquiring an additional 13 shares in the last quarter. Centerpoint Advisors LLC grew its holdings in The Goldman Sachs Group by 1.5% in the third quarter. Centerpoint Advisors LLC now owns 863 shares of the investment management company’s stock worth $687,000 after purchasing an additional 13 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its holdings in The Goldman Sachs Group by 0.9% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,488 shares of the investment management company’s stock worth $1,185,000 after purchasing an additional 13 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

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.