Morgan Stanley Raises The Goldman Sachs Group (NYSE:GS) Price Target to $570.00

by · The Markets Daily

The Goldman Sachs Group (NYSE:GS – Free Report) had its target price boosted by Morgan Stanley from $560.00 to $570.00 in a research report released on Wednesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the investment management company’s stock.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer increased their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday. JMP Securities boosted 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 research report on Wednesday, October 9th. Finally, Barclays increased their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

Read Our Latest Report on GS

The Goldman Sachs Group Stock Down 0.1 %

NYSE:GS opened at $528.36 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $540.51. The company has a market cap of $170.38 billion, a PE ratio of 20.63, a P/E/G ratio of 0.77 and a beta of 1.36. The company’s 50 day moving average is $498.15 and its two-hundred day moving average is $469.05.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the firm earned $5.47 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group will post 35.52 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently made changes to their positions in the company. Calton & Associates Inc. increased its position in shares of The Goldman Sachs Group by 453.3% during the third quarter. Calton & Associates Inc. now owns 10,281 shares of the investment management company’s stock worth $5,090,000 after purchasing an additional 8,423 shares in the last quarter. Vest Financial LLC boosted its stake in The Goldman Sachs Group by 196.1% during the 3rd quarter. Vest Financial LLC now owns 1,510 shares of the investment management company’s stock worth $748,000 after purchasing an additional 1,000 shares during the last quarter. West Branch Capital LLC purchased a new stake in shares of The Goldman Sachs Group during the third quarter worth $30,000. Cyndeo Wealth Partners LLC raised its position in shares of The Goldman Sachs Group by 14.2% in the third quarter. Cyndeo Wealth Partners LLC now owns 3,769 shares of the investment management company’s stock valued at $1,866,000 after buying an additional 468 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management purchased a new position in shares of The Goldman Sachs Group in the third quarter worth about $211,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

(Get Free Report)

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.

Recommended Stories