Goldman Sachs Group Inc. (NYSE:GS) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, The Fly reports.
GS has been the subject of a number of other research reports. Vetr upgraded Goldman Sachs Group from a “sell” rating to a “strong-buy” rating and set a $179.28 price objective for the company in a research report on Thursday, September 29th. Rafferty Capital Markets raised their price objective on Goldman Sachs Group from $191.00 to $227.00 and gave the stock a “buy” rating in a research report on Thursday, November 10th. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a research report on Tuesday, September 20th. Finally, RBC Capital Markets set a $170.00 price objective on Goldman Sachs Group and gave the stock a “hold” rating in a research report on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $182.28.
Goldman Sachs Group (NYSE:GS) opened at 209.70 on Tuesday. Goldman Sachs Group has a 52 week low of $138.20 and a 52 week high of $213.41. The company has a market capitalization of $87.82 billion, a P/E ratio of 16.83 and a beta of 1.55. The company’s 50-day moving average price is $186.97 and its 200-day moving average price is $166.34.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 18th. The investment management company reported $4.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a return on equity of 9.73% and a net margin of 19.58%. The firm earned $8.17 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the company earned $4.51 EPS. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities analysts forecast that Goldman Sachs Group will post $15.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 1st will be issued a $0.65 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.24%. Goldman Sachs Group’s dividend payout ratio (DPR) is 20.72%.
In other news, EVP Alan M. Cohen sold 5,000 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $181.19, for a total value of $905,950.00. Following the sale, the executive vice president now directly owns 61,444 shares in the company, valued at $11,133,038.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sarah G. Smith sold 218 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $211.47, for a total value of $46,100.46. Following the completion of the sale, the insider now owns 22,103 shares in the company, valued at $4,674,121.41. The disclosure for this sale can be found here. 2.61% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in Goldman Sachs Group by 16.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,845 shares of the investment management company’s stock worth $2,021,000 after buying an additional 1,801 shares in the last quarter. Cacti Asset Management LLC increased its stake in Goldman Sachs Group by 1.0% in the second quarter. Cacti Asset Management LLC now owns 177,281 shares of the investment management company’s stock worth $26,340,000 after buying an additional 1,723 shares in the last quarter. Baxter Bros Inc. bought a new stake in Goldman Sachs Group during the second quarter worth about $2,327,000. DNB Asset Management AS increased its stake in Goldman Sachs Group by 2.5% in the second quarter. DNB Asset Management AS now owns 33,293 shares of the investment management company’s stock worth $4,947,000 after buying an additional 800 shares in the last quarter. Finally, Lau Associates LLC bought a new stake in Goldman Sachs Group during the second quarter worth about $1,070,000. Institutional investors own 69.61% of the company’s stock.
Goldman Sachs Group Company Profile
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.