Goldman Sachs Group Inc. (NYSE:GS) had its target price lifted by Citigroup Inc. from $180.00 to $195.00 in a research report sent to investors on Monday morning. Citigroup Inc. currently has a buy rating on the investment management company’s stock.
GS has been the topic of several other reports. Zacks Investment Research cut Goldman Sachs Group from a buy rating to a hold rating in a research note on Monday, September 26th. Vetr raised Goldman Sachs Group from a sell rating to a strong-buy rating and set a $179.28 target price on the stock in a research note on Thursday, September 29th. Bank of America Corp. reissued a buy rating and set a $160.00 target price (down from $185.00) on shares of Goldman Sachs Group in a research note on Wednesday, June 29th. Royal Bank Of Canada boosted their target price on Goldman Sachs Group from $145.00 to $150.00 and gave the company a sector perform rating in a research note on Wednesday, July 20th. Finally, Credit Suisse Group AG raised Goldman Sachs Group to a buy rating in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $181.82.
Shares of Goldman Sachs Group (NYSE:GS) opened at 170.17 on Monday. The stock has a market capitalization of $72.56 billion, a price-to-earnings ratio of 16.13 and a beta of 1.61. Goldman Sachs Group has a 12 month low of $138.20 and a 12 month high of $199.90. The stock’s 50 day moving average price is $166.54 and its 200 day moving average price is $159.50.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.72. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. Analysts expect that Goldman Sachs Group will post $14.25 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Tuesday, August 30th. Goldman Sachs Group’s payout ratio is 24.60%.
In related news, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the completion of the sale, the executive vice president now owns 33,634 shares in the company, valued at $5,586,943.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total value of $452,880.00. Following the sale, the insider now owns 13,075 shares of the company’s stock, valued at approximately $2,222,750. The disclosure for this sale can be found here. 2.61% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Goldman Sachs Group by 268.8% in the first quarter. Wellington Management Group LLP now owns 6,093,448 shares of the investment management company’s stock valued at $956,549,000 after buying an additional 4,441,270 shares in the last quarter. Dodge & Cox boosted its stake in Goldman Sachs Group by 24.9% in the first quarter. Dodge & Cox now owns 13,489,040 shares of the investment management company’s stock valued at $2,117,509,000 after buying an additional 2,690,050 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Goldman Sachs Group during the second quarter valued at about $157,768,000. Capital Research Global Investors boosted its stake in Goldman Sachs Group by 26.8% in the second quarter. Capital Research Global Investors now owns 3,789,717 shares of the investment management company’s stock valued at $563,076,000 after buying an additional 802,067 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Goldman Sachs Group by 351.6% in the third quarter. BNP Paribas Arbitrage SA now owns 599,802 shares of the investment management company’s stock valued at $96,730,000 after buying an additional 466,993 shares in the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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