Goldman Sachs Group Inc. (NYSE:GS) shares gapped up prior to trading on Monday after Citigroup raised their price target on the stock from $180.00 to $195.00. The stock had previously closed at $169.71, but opened at $169.83. Citigroup currently has a buy rating on the stock. Goldman Sachs Group shares last traded at $171.49, with a volume of 1,375,399 shares trading hands.
Other research analysts have also issued reports about the stock. Bank of America Corp. restated a “buy” rating and issued a $160.00 price objective (down from $185.00) on shares of Goldman Sachs Group in a research note on Wednesday, June 29th. Vetr upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 price objective on the stock in a research note on Tuesday, July 5th. JPMorgan Chase & Co. set a $163.00 price objective on shares of Goldman Sachs Group and gave the company a “buy” rating in a research note on Monday, June 27th. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Monday, June 27th. Finally, Credit Suisse Group AG upgraded shares of Goldman Sachs Group to a “buy” rating in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $181.82.
In other news, EVP Edith W. Cooper sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $166.11, for a total value of $2,325,540.00. Following the completion of the transaction, the executive vice president now owns 33,634 shares of the company’s stock, valued at $5,586,943.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sarah G. Smith sold 2,664 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the transaction, the insider now directly owns 13,075 shares of the company’s stock, valued at approximately $2,222,750. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Columbia Partners L L C Investment Management raised its position in Goldman Sachs Group by 22.1% in the first quarter. Columbia Partners L L C Investment Management now owns 7,227 shares of the investment management company’s stock worth $1,134,000 after buying an additional 1,310 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Goldman Sachs Group during the first quarter worth $3,151,000. Bessemer Group Inc. raised its position in Goldman Sachs Group by 53.3% in the first quarter. Bessemer Group Inc. now owns 4,510 shares of the investment management company’s stock worth $708,000 after buying an additional 1,568 shares in the last quarter. Algebris Investments UK LLP purchased a new position in Goldman Sachs Group during the first quarter worth $816,000. Finally, Aviva PLC raised its position in Goldman Sachs Group by 0.3% in the first quarter. Aviva PLC now owns 250,121 shares of the investment management company’s stock worth $39,264,000 after buying an additional 652 shares in the last quarter. 70.77% of the stock is owned by institutional investors and hedge funds.
The firm’s 50-day moving average price is $166.54 and its 200-day moving average price is $159.50. The stock has a market capitalization of $72.93 billion, a price-to-earnings ratio of 16.21 and a beta of 1.61.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.72. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. During the same quarter last year, the company earned $1.98 EPS. On average, equities research analysts forecast that Goldman Sachs Group Inc. will post $14.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 annualized dividend and a yield of 1.52%. Goldman Sachs Group’s payout ratio is 24.60%.
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.
Receive News & Ratings for Goldman Sachs Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.