Zacks Investment Research upgraded shares of Goldman Sachs Group Inc (NYSE:GS) from a hold rating to a buy rating in a research report sent to investors on Friday morning. They currently have $271.00 target price on the investment management company’s stock.

According to Zacks, “Shares of Goldman outperformed the industry over the past year. Further, the company boasts an impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Goldman’s third-quarter 2017 results surpassed the Zacks Consensus Estimate. Results reflected higher revenues on continued momentum in investment banking business, partially offset by lower fixed-income trading activities and elevated expenses. Though several issues, including sluggish global economic growth and lower client activity levels, remain near-to-medium-term headwinds, we believe the company’s well-diversified business and its focus to capitalize on growth opportunities through strategic moves should continue to bolster the overall business.”

Several other analysts also recently issued reports on the company. Deutsche Bank AG reissued a buy rating on shares of Goldman Sachs Group in a research note on Monday, July 3rd. Citigroup Inc. reissued a neutral rating and issued a $225.00 price target on shares of Goldman Sachs Group in a research note on Wednesday, June 28th. BidaskClub downgraded Goldman Sachs Group from a hold rating to a sell rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reissued a hold rating and issued a $240.00 price target on shares of Goldman Sachs Group in a research note on Thursday, August 31st. Finally, Capital One Financial Corporation reissued a buy rating on shares of Goldman Sachs Group in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $244.98.

Shares of Goldman Sachs Group (NYSE:GS) traded up 1.98% on Friday, reaching $244.73. The company’s stock had a trading volume of 3,022,769 shares. The company has a 50 day moving average price of $233.24 and a 200 day moving average price of $225.75. Goldman Sachs Group has a 52-week low of $173.93 and a 52-week high of $255.15. The company has a market cap of $95.01 billion, a P/E ratio of 12.75 and a beta of 1.41.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.85. The firm had revenue of $8.33 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same period in the prior year, the business earned $4.88 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Goldman Sachs Group will post $18.96 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, November 29th. Goldman Sachs Group’s payout ratio is currently 15.63%.

In related news, EVP John F.W. Rogers sold 17,685 shares of Goldman Sachs Group stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $235.02, for a total transaction of $4,156,328.70. Following the completion of the transaction, the executive vice president now owns 80,109 shares in the company, valued at $18,827,217.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Richard J. Gnodde sold 4,951 shares of Goldman Sachs Group stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $239.95, for a total value of $1,187,992.45. The disclosure for this sale can be found here. Insiders have sold 30,486 shares of company stock valued at $7,144,861 in the last quarter. 2.57% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of GS. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Goldman Sachs Group during the second quarter worth approximately $101,000. WealthTrust Arizona LLC boosted its holdings in shares of Goldman Sachs Group by 97.1% during the second quarter. WealthTrust Arizona LLC now owns 469 shares of the investment management company’s stock worth $104,000 after acquiring an additional 231 shares during the period. Sterling Investment Advisors Ltd. boosted its holdings in shares of Goldman Sachs Group by 35.7% during the second quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock worth $105,000 after acquiring an additional 125 shares during the period. Shine Investment Advisory Services Inc. bought a new stake in shares of Goldman Sachs Group during the second quarter worth approximately $111,000. Finally, Gs Investments Inc. bought a new stake in shares of Goldman Sachs Group during the second quarter worth approximately $111,000. Institutional investors and hedge funds own 73.28% of the company’s stock.

About Goldman Sachs Group

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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