The Goldman Sachs Group (NYSE:GS) Sets New 12-Month High After Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS) shares hit a new 52-week high 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 $587.42 and last traded at $577.99, with a volume of 304045 shares traded. The stock had previously closed at $526.96.

GS has been the subject of a number of other research reports. Evercore ISI lifted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JMP Securities increased their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Bank of America upped their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley upped their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $527.63.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently bought and sold shares of the business. POM Investment Strategies LLC purchased a new stake in The Goldman Sachs Group in the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group in the 2nd quarter worth $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. boosted its stake in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 13.1 %

The company has a debt-to-equity ratio of 2.07, a current ratio of 1.11 and a quick ratio of 0.72. The stock’s 50 day moving average is $504.77 and its 200-day moving average is $480.57. The company has a market capitalization of $188.21 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.74 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the business earned $5.47 EPS. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.01%. The Goldman Sachs Group’s dividend payout ratio is currently 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.