The Goldman Sachs Group, Inc. (NYSE:GS) Stock Has Average Price Target of $1,062.86

The Goldman Sachs Group, Inc. (NYSE:GS) has been given a consensus recommendation of “Hold” by the twenty-four brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $1,055.71.

GS has been the subject of a number of research reports. HSBC raised The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Citigroup reduced their price target on The Goldman Sachs Group from $1,200.00 to $1,050.00 and set a “neutral” rating for the company in a report on Wednesday. Wall Street Zen cut The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Sunday, September 13th. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a “market perform” rating in a report on Wednesday, July 15th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GS. BlackRock Inc. bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $24,172,123,000. Bank of America Corp DE bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $6,756,772,000. Norges Bank bought a new position in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $2,515,830,000. Orange County Employees Retirement System acquired a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $69,537,544,000. Finally, Bank of New York Mellon Corp bought a new stake in The Goldman Sachs Group during the second quarter worth approximately $2,560,028,000. Institutional investors own 71.21% of the company’s stock.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs was upgraded to Buy following the pullback. The bullish view cites the firm’s durable earnings power, strong trading operations, record investment-banking backlog and expanding asset-and-wealth-management business. Goldman Sachs Upgraded To Buy After Recent Pullback
• Positive Sentiment: The firm reportedly raised $11.7 billion for private-equity strategies, supporting management’s alternatives expansion and the potential for higher recurring fee revenue. Goldman Sachs Raises $11.7 Billion for Private Equity
• Positive Sentiment: Goldman is reportedly generating more than $200 million in fees from its “situational awareness” business, while a company report highlights growing investor interest in single-client hedge funds. Both developments reinforce the growth of its alternatives and asset-management platforms. Goldman Sachs Earns Over $200 Million in Fees
• Neutral Sentiment: Goldman is reportedly considering the acquisition of Palmer Square, a roughly $37 billion credit manager. The deal could strengthen credit and asset management, but its cost, financing and execution remain uncertain. Goldman Eyes Palmer Square Buyout
• Negative Sentiment: Citigroup lowered its Goldman Sachs price target from $1,200 to $1,050 and retained a Neutral rating. Although the revised target implies upside, the cut signals more cautious expectations after the stock’s strong run. Citigroup Adjusts Price Target on Goldman Sachs
• Negative Sentiment: The proposed Palmer Square transaction and Goldman’s reported $400 million investment in cybersecurity company Cyera increase exposure to private-market assets and require substantial capital, adding to investor concerns about valuation and deal risk. Goldman Sachs Cyera Investment

The Goldman Sachs Group Stock Down 1.4%

The Goldman Sachs Group stock opened at $922.83 on Tuesday. The firm has a market cap of $268.70 billion, a PE ratio of 14.24, a P/E/G ratio of 0.95 and a beta of 1.29. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50 day moving average price is $1,022.69 and its two-hundred day moving average price is $981.25. The Goldman Sachs Group has a twelve month low of $740.01 and a twelve month high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the business posted $10.91 EPS. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group will post 69.64 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 30.87%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc (NYSE:GS) is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individuals. The company is headquartered in New York City and serves clients across North America, Europe, Asia-Pacific and other international markets.

Through its Global Banking & Markets segment, Goldman Sachs advises clients on mergers and acquisitions, capital raising, restructuring and other strategic transactions.