Goldman Sachs Group Inc. (GS) Price Target Raised to $195.00 at Citigroup Inc.
Goldman Sachs Group Inc. (NYSE:GS) had its target price raised by Citigroup Inc. from $180.00 to $195.00 in a report issued on Monday morning. The brokerage currently has a buy rating on the investment management company’s stock.
A number of other analysts also recently issued reports on the stock. Wells Fargo & Co. reiterated a hold rating on shares of Goldman Sachs Group in a report on Saturday, July 9th. Deutsche Bank AG reiterated a hold rating on shares of Goldman Sachs Group in a report on Sunday, June 26th. Oppenheimer Holdings Inc. lifted their price objective on shares of Goldman Sachs Group from $222.00 to $223.00 and gave the company an outperform rating in a report on Wednesday, July 27th. BMO Capital Markets reiterated an outperform rating and issued a $214.00 price objective (up from $197.00) on shares of Goldman Sachs Group in a report on Friday, July 22nd. Finally, Vetr upgraded shares of Goldman Sachs Group from a sell rating to a strong-buy rating and set a $179.28 price objective on the stock in a report on Thursday, September 29th. One 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 stock. The stock has a consensus rating of Hold and a consensus target price of $181.82.
Shares of Goldman Sachs Group (NYSE:GS) opened at 170.17 on Monday. The firm has a 50-day moving average of $166.54 and a 200-day moving average of $159.50. The company has a market capitalization of $72.56 billion, a P/E ratio of 16.13 and a beta of 1.61. Goldman Sachs Group has a one year low of $138.20 and a one year high of $199.90.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.72. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. The firm had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Equities research analysts expect that Goldman Sachs Group will post $14.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.52%. The ex-dividend date was Tuesday, August 30th. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 24.60%.
In other Goldman Sachs Group news, EVP Edith W. Cooper sold 14,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 33,634 shares in the company, valued at approximately $5,586,943.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sarah G. Smith sold 2,664 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total value of $452,880.00. Following the transaction, the insider now owns 13,075 shares in the company, valued at $2,222,750. The disclosure for this sale can be found here. Company insiders own 2.61% of the company’s stock.
A number of institutional investors have recently modified their holdings of GS. Columbia Partners L L C Investment Management boosted its position in shares of Goldman Sachs Group by 22.1% in the first quarter. Columbia Partners L L C Investment Management now owns 7,227 shares of the investment management company’s stock valued at $1,134,000 after buying an additional 1,310 shares during the period. NN Investment Partners Holdings N.V. bought a new position in shares of Goldman Sachs Group during the first quarter valued at $3,151,000. Bessemer Group Inc. boosted its position in shares of Goldman Sachs Group by 53.3% in the first quarter. Bessemer Group Inc. now owns 4,510 shares of the investment management company’s stock valued at $708,000 after buying an additional 1,568 shares during the period. Algebris Investments UK LLP bought a new position in shares of Goldman Sachs Group during the first quarter valued at $816,000. Finally, Aviva PLC boosted its position in shares of Goldman Sachs Group by 0.3% in the first quarter. Aviva PLC now owns 250,121 shares of the investment management company’s stock valued at $39,264,000 after buying an additional 652 shares during the period. Institutional investors and hedge funds 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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