Wells Fargo & Company Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $680.00

The Goldman Sachs Group (NYSE:GS) had its price objective reduced by Wells Fargo & Company from $720.00 to $680.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

A number of other research analysts have also recently issued reports on GS. Morgan Stanley decreased their target price on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays boosted their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group raised their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Finally, Citigroup lowered their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $590.60.

The Goldman Sachs Group Price Performance

Shares of GS opened at $543.04 on Friday. The stock’s 50-day moving average price is $608.15 and its two-hundred day moving average price is $572.36. The Goldman Sachs Group has a 1 year low of $387.12 and a 1 year high of $672.19. The stock has a market cap of $169.45 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. 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 Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same period last year, the business posted $5.48 earnings per share. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, equities analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio is 29.59%.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,034 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the completion of the transaction, the chief accounting officer now owns 6,455 shares in the company, valued at approximately $4,047,349.55. This trade represents a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the sale, the treasurer now owns 8,192 shares in the company, valued at $5,117,296.64. This represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,925 shares of company stock worth $12,630,683 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Stephens Consulting LLC bought a new position in The Goldman Sachs Group during the fourth quarter worth $26,000. Asset Planning Inc bought a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $29,000. Curio Wealth LLC bought a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $30,000. Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $31,000. 71.21% of the stock is owned by institutional investors and hedge funds.

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.