Goldman Sachs Group Inc. (NYSE:GS) received a $176.00 target price from JPMorgan Chase & Co. in a research note issued on Thursday. The firm presently has a a “buy” rating on the investment management company’s stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 6.58% from the stock’s current price.
A number of other research analysts have also recently weighed in on GS. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Saturday, July 9th. Deutsche Bank AG reissued a “hold” rating on shares of Goldman Sachs Group in a report on Sunday, June 26th. Oppenheimer Holdings Inc. boosted their price target on Goldman Sachs Group from $222.00 to $223.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. BMO Capital Markets reissued an “outperform” rating and issued a $214.00 price target (up from $197.00) on shares of Goldman Sachs Group in a report on Friday, July 22nd. Finally, Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a report on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus target price of $180.41.
Shares of Goldman Sachs Group (NYSE:GS) opened at 165.13 on Thursday. The stock has a market cap of $70.41 billion, a price-to-earnings ratio of 15.65 and a beta of 1.68. The stock’s 50 day moving average price is $166.57 and its 200-day moving average price is $158.54. Goldman Sachs Group has a 1-year low of $138.20 and a 1-year high of $199.90.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data 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 return on equity of 8.83% and a net margin of 18.12%. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the firm earned $1.98 EPS. On average, equities research analysts forecast that Goldman Sachs Group will post $14.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, August 30th. Goldman Sachs Group’s dividend payout ratio is 24.60%.
In related news, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the sale, the insider now directly owns 13,075 shares in the company, valued at approximately $2,222,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edith W. Cooper sold 14,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $166.11, for a total value of $2,325,540.00. Following the sale, the executive vice president now owns 33,634 shares of the company’s stock, valued at $5,586,943.74. The disclosure for this sale can be found here. Corporate insiders own 2.61% of the company’s stock.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Goldman Sachs Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 22,472,479 shares of the investment management company’s stock worth $3,338,962,000 after buying an additional 93,526 shares during the period. Dodge & Cox boosted its stake in 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 during the period. Massachusetts Financial Services Co. MA boosted its stake in Goldman Sachs Group by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,644,354 shares of the investment management company’s stock worth $1,878,700,000 after buying an additional 194,684 shares during the period. Capital World Investors boosted its stake in Goldman Sachs Group by 0.3% in the second quarter. Capital World Investors now owns 11,404,284 shares of the investment management company’s stock worth $1,694,449,000 after buying an additional 38,554 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Goldman Sachs Group by 268.8% in the first quarter. Wellington Management Group LLP now owns 6,093,448 shares of the investment management company’s stock worth $956,549,000 after buying an additional 4,441,270 shares during the period. Hedge funds and other institutional investors 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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