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

by · The Cerbat Gem

The Goldman Sachs Group (NYSE:GS – Free Report) had its price target raised by Wells Fargo & Company from $600.00 to $680.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

GS has been the subject of a number of other reports. Barclays lifted their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Bank of America lifted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JMP Securities upped their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer increased their price target on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

Get Our Latest Stock Analysis on GS

The Goldman Sachs Group Trading Up 0.8 %

Shares of GS traded up $4.93 during trading hours on Friday, hitting $593.54. 2,007,812 shares of the stock were exchanged, compared to its average volume of 2,226,296. The Goldman Sachs Group has a fifty-two week low of $334.55 and a fifty-two week high of $607.15. The business has a 50-day moving average of $518.10 and a 200-day moving average of $488.35. The firm has a market capitalization of $186.32 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced 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 return on equity of 11.39% and a net margin of 9.89%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the company earned $5.47 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insider Transactions at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction on 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 completion of the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock worth $6,656,119 over the last three months. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brophy Wealth Management LLC bought a new stake in The Goldman Sachs Group in the third quarter worth $536,000. M&T Bank Corp raised its position in shares of The Goldman Sachs Group by 0.6% during the 3rd quarter. M&T Bank Corp now owns 27,271 shares of the investment management company’s stock valued at $13,502,000 after buying an additional 157 shares in the last quarter. Continuum Advisory LLC grew its position in The Goldman Sachs Group by 27.4% in the third quarter. Continuum Advisory LLC now owns 288 shares of the investment management company’s stock worth $143,000 after acquiring an additional 62 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in The Goldman Sachs Group by 93.6% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 4,259 shares of the investment management company’s stock worth $2,109,000 after acquiring an additional 2,059 shares during the last quarter. Finally, EWA LLC raised its position in The Goldman Sachs Group by 10.7% during the third quarter. EWA LLC now owns 485 shares of the investment management company’s stock valued at $240,000 after purchasing an additional 47 shares during the period. Institutional investors own 71.21% of the company’s stock.

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.

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