The Goldman Sachs Group (NYSE:GS) Stock Price Up 12.1% After Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price was up 12.1% during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $614.00 to $661.00. Oppenheimer currently has an outperform rating on the stock. The Goldman Sachs Group traded as high as $595.55 and last traded at $590.67. Approximately 3,494,288 shares changed hands during trading, an increase of 59% from the average daily volume of 2,196,070 shares. The stock had previously closed at $526.96.

Several other research firms have also recently issued reports on GS. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. BMO Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup increased their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $527.63.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of large investors have recently added to or reduced their stakes in GS. Fifth Third Wealth Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 39.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 13,706 shares of the investment management company’s stock worth $6,786,000 after acquiring an additional 3,893 shares during the last quarter. BIP Wealth LLC bought a new position in The Goldman Sachs Group in the third quarter worth approximately $227,000. Caprock Group LLC increased its holdings in The Goldman Sachs Group by 52.9% during the 3rd quarter. Caprock Group LLC now owns 27,864 shares of the investment management company’s stock worth $13,796,000 after purchasing an additional 9,645 shares during the period. Wharton Business Group LLC raised its position in The Goldman Sachs Group by 16.4% during the 3rd quarter. Wharton Business Group LLC now owns 68,412 shares of the investment management company’s stock valued at $33,872,000 after purchasing an additional 9,635 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 3.9% in the 3rd quarter. Drive Wealth Management LLC now owns 897 shares of the investment management company’s stock worth $444,000 after buying an additional 34 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 2.3 %

The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The business has a 50-day moving average price of $504.77 and a 200-day moving average price of $480.57. The firm has a market cap of $183.85 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.74 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter last year, the firm posted $5.47 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.06%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

About The Goldman Sachs Group

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.