The Goldman Sachs Group (NYSE:GS) PT Raised to $570.00

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by Morgan Stanley from $560.00 to $570.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group upped their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI upped their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. BMO Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Stock Up 1.4 %

GS stock opened at $529.86 on Wednesday. The company has a market cap of $170.86 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $540.51. The business has a 50 day moving average price of $496.53 and a two-hundred day moving average price of $467.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the business earned $5.47 earnings per share. 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 fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.26%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors have recently modified their holdings of GS. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the second quarter worth $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. lifted its position in The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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.