The Goldman Sachs Group (NYSE:GS) Upgraded by Wolfe Research to “Hold”

by · The Markets Daily

Wolfe Research upgraded shares of The Goldman Sachs Group (NYSE:GS – Free Report) to a hold rating in a research report report published on Wednesday, Zacks.com reports.

GS has been the topic of several other reports. Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an outperform rating in a report on Thursday, June 27th. BMO Capital Markets upped their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a market perform rating in a report on Wednesday, July 17th. UBS Group upped their price objective on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. Finally, Seaport Res Ptn lowered shares of The Goldman Sachs Group from a strong-buy rating to a hold rating in a report on Tuesday, July 2nd. Six equities 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 Goldman Sachs Group presently has an average rating of Moderate Buy and an average price target of $496.44.

Check Out Our Latest Stock Analysis on The Goldman Sachs Group

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $498.43 on Wednesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $160.73 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 0.73 and a beta of 1.36. The company’s 50-day moving average is $491.96 and its two-hundred day moving average is $454.73. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $517.26.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. Analysts forecast that The Goldman Sachs Group will post 35.5 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the first quarter valued at approximately $1,903,374,000. AMF Tjanstepension AB lifted its position in The Goldman Sachs Group by 1,102.4% during the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after buying an additional 743,402 shares in the last quarter. Wellington Management Group LLP lifted its position in The Goldman Sachs Group by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after buying an additional 464,954 shares in the last quarter. 1832 Asset Management L.P. lifted its position in The Goldman Sachs Group by 7,932.6% during the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after buying an additional 438,754 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in The Goldman Sachs Group by 878.8% during the second 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 buying an additional 356,512 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

(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.

Featured Stories