The Goldman Sachs Group (NYSE:GS) Trading Up 2.1% on Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS) traded up 2.1% on Thursday after Citigroup raised their price target on the stock from $485.00 to $585.00. Citigroup currently has a neutral rating on the stock. The Goldman Sachs Group traded as high as $594.77 and last traded at $594.20. 474,126 shares were traded during mid-day trading, a decline of 79% from the average session volume of 2,213,516 shares. The stock had previously closed at $581.93.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Evercore ISI boosted their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer boosted their price target on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock valued at $6,656,119 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors have recently made changes to their positions in GS. Acadian Asset Management LLC raised its holdings in The Goldman Sachs Group by 407.2% during the first quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock worth $175,000 after acquiring an additional 338 shares in the last quarter. Shell Asset Management Co. bought a new stake in The Goldman Sachs Group during the first quarter worth about $377,000. EntryPoint Capital LLC bought a new stake in The Goldman Sachs Group during the first quarter worth about $101,000. CreativeOne Wealth LLC raised its holdings in The Goldman Sachs Group by 15.2% during the first quarter. CreativeOne Wealth LLC now owns 3,873 shares of the investment management company’s stock worth $1,618,000 after acquiring an additional 510 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 2.1 %

The business has a 50-day simple moving average of $524.58 and a two-hundred day simple moving average of $491.95. The stock has a market cap of $186.57 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 0.84 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) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating 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 company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the prior year, the business earned $5.47 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

The Goldman Sachs Group Company Profile

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.