Goldman Sachs Group Inc. (GS) Price Target Raised to $227.00
Goldman Sachs Group Inc. (NYSE:GS) had its target price increased by Rafferty Capital Markets from $191.00 to $227.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the investment management company’s stock. Rafferty Capital Markets’ target price indicates a potential upside of 17.84% from the stock’s current price.
GS has been the subject of a number of other research reports. Vetr cut shares of Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $170.52 target price for the company. in a research report on Thursday, October 27th. Nomura reaffirmed a “buy” rating and issued a $197.00 target price (up previously from $195.00) on shares of Goldman Sachs Group in a research note on Tuesday, July 19th. Berenberg Bank assumed coverage on shares of Goldman Sachs Group in a research note on Wednesday, July 13th. They issued a “hold” rating and a $140.00 target price on the stock. Citigroup Inc. raised their target price on shares of Goldman Sachs Group from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, October 10th. Finally, Oppenheimer Holdings Inc. set a $222.00 price objective on shares of Goldman Sachs Group and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $181.38.
Goldman Sachs Group (NYSE:GS) traded up 2.12% during midday trading on Thursday, hitting $196.72. 1,932,877 shares of the stock traded hands. The stock has a market cap of $82.39 billion, a PE ratio of 15.79 and a beta of 1.55. Goldman Sachs Group has a 1-year low of $138.20 and a 1-year high of $199.35. The company has a 50-day moving average of $171.42 and a 200-day moving average of $162.27.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 18th. The investment management company reported $4.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.79 by $1.09. The company earned $8.17 billion during the quarter, compared to the consensus estimate of $7.41 billion. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.51 earnings per share. On average, equities analysts expect that Goldman Sachs Group will post $15.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, November 29th. Goldman Sachs Group’s payout ratio is 20.72%.
In other Goldman Sachs Group news, EVP Alan M. Cohen sold 5,000 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $181.19, for a total transaction of $905,950.00. Following the transaction, the executive vice president now directly owns 61,444 shares in the company, valued at approximately $11,133,038.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was 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.
Several institutional investors have recently bought and sold shares of GS. Jennison Associates LLC boosted its position in shares of Goldman Sachs Group by 237.3% in the third quarter. Jennison Associates LLC now owns 4,371,336 shares of the investment management company’s stock worth $704,965,000 after buying an additional 3,075,277 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Goldman Sachs Group by 693.1% in the third quarter. Fisher Asset Management LLC now owns 1,971,845 shares of the investment management company’s stock worth $318,000,000 after buying an additional 1,723,214 shares in the last quarter. Dodge & Cox boosted its position in shares of Goldman Sachs Group by 11.4% in the second quarter. Dodge & Cox now owns 15,020,855 shares of the investment management company’s stock worth $2,231,799,000 after buying an additional 1,531,815 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Goldman Sachs Group during the second quarter worth about $157,768,000. Finally, Capital Research Global Investors boosted its position in shares of 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 worth $563,076,000 after buying an additional 802,067 shares in the last quarter. Hedge funds and other institutional investors own 71.28% 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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