The Goldman Sachs Group, Inc. (NYSE:GS) Receives $941.82 Average Target Price from Brokerages

The Goldman Sachs Group, Inc. (NYSE:GS) has been given a consensus recommendation of “Hold” by the twenty-three brokerages that are currently covering the stock, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $941.8182.

GS has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. CICC Research boosted their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Morgan Stanley set a $900.00 price objective on shares of The Goldman Sachs Group in a report on Friday. Dbs Bank boosted their price objective on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs surpassed $1 trillion in year-to-date M&A advisory volume, signaling record-breaking deal activity and a stronger revenue outlook from investment banking. Goldman Sachs shatters dealmaking records with $1 trillion in first-half M&A volume
• Positive Sentiment: Goldman Sachs was tapped to lead SpaceX’s IPO, which could boost underwriting fees and serves as a high-profile sign that new listings may be returning. Goldman Sachs (GS) Lands SpaceX IPO Lead As New Listings Come Back Into Focus
• Positive Sentiment: Goldman Sachs’ record M&A pace and continued involvement in major financings are reinforcing investor expectations for stronger fee generation across its advisory and capital-markets businesses. Goldman Tops $1 Trillion of M&A, Fastest Ever to Reach the Mark
• Neutral Sentiment: Several articles referenced Goldman’s research and market commentary on oil, Chinese stocks, and AI themes, but these are more about the firm’s views than a direct business catalyst for GS shares. The peace deal is in the price: Goldman Sachs lowers its oil-price target to market levels

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alex S. Golten sold 1,116 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the completion of the sale, the insider owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 33,681 shares of company stock valued at $31,737,875. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of The Goldman Sachs Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after buying an additional 418,820 shares during the period. State Street Corp increased its stake in shares of The Goldman Sachs Group by 2.1% in the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after buying an additional 394,198 shares during the period. Fisher Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after buying an additional 110,134 shares during the period. Geode Capital Management LLC increased its stake in shares of The Goldman Sachs Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock worth $5,896,795,000 after buying an additional 45,266 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of The Goldman Sachs Group by 8.0% in the first quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock worth $5,460,875,000 after buying an additional 476,977 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Up 1.3%

Shares of The Goldman Sachs Group stock opened at $1,090.03 on Friday. The Goldman Sachs Group has a 1 year low of $623.00 and a 1 year high of $1,098.36. The firm has a market cap of $321.57 billion, a PE ratio of 19.92, a PEG ratio of 1.40 and a beta of 1.30. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The company has a 50 day simple moving average of $966.09 and a two-hundred day simple moving average of $914.56.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same period in the previous year, the business posted $14.12 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts expect that The Goldman Sachs Group will post 59.08 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group’s payout ratio is presently 32.89%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.