The Goldman Sachs Group (NYSE:GS) Price Target Raised to $577.00

The Goldman Sachs Group (NYSE:GS) had its target price boosted by Oppenheimer from $548.00 to $577.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the investment management company’s stock.

Other analysts also recently issued reports about the stock. Wolfe Research upgraded shares of The Goldman Sachs Group to a hold rating in a report on Wednesday, September 18th. UBS Group increased their price target on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a buy rating in a research report on Tuesday, July 9th. BMO Capital Markets boosted their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a market perform rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an overweight rating in a report on Monday, September 9th. Finally, Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $497.56.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $495.39 on Wednesday. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average price of $492.29 and a two-hundred day moving average price of $461.63. The firm has a market cap of $159.75 billion, a P/E ratio of 19.34, a PEG ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. Research analysts forecast that The Goldman Sachs Group will post 35.43 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.42%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date was Friday, August 30th. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Insider Activity

In related news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $1,903,374,000. AMF Tjanstepension AB grew its holdings in The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after buying an additional 743,402 shares during the last quarter. Wellington Management Group LLP increased its position in The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after buying an additional 464,954 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of The Goldman Sachs Group by 7,932.6% during the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after buying an additional 438,754 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of The Goldman Sachs Group by 878.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after acquiring an additional 356,512 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.