The Goldman Sachs Group (NYSE:GS) Trading Up 0.4% on Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price shot up 0.4% on Friday after Citigroup raised their price target on the stock from $485.00 to $585.00. Citigroup currently has a neutral rating on the stock. The Goldman Sachs Group traded as high as $601.86 and last traded at $598.48. 327,000 shares were traded during trading, a decline of 85% from the average session volume of 2,213,441 shares. The stock had previously closed at $596.11.

Several other analysts have also issued reports on the company. Morgan Stanley increased their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Oppenheimer lifted their price target on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.00.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Institutional investors have recently made changes to their positions in the business. Mizuho Securities USA LLC grew its stake in shares of The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. AMF Tjanstepension AB grew its holdings in shares of The Goldman Sachs Group by 1,102.4% during the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after purchasing an additional 743,402 shares in the last quarter. FMR LLC increased its stake in The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after acquiring an additional 521,054 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of The Goldman Sachs Group by 7,932.6% during the 2nd 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 in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in The Goldman Sachs Group by 878.8% in the 2nd 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 purchasing an additional 356,512 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.1 %

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $189.22 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.87 and a beta of 1.35. The firm’s 50-day moving average is $529.52 and its 200 day moving average is $494.13.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.47 earnings per share. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

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.