The Goldman Sachs Group (NYSE:GS) Price Target Raised to $680.00

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by Wells Fargo & Company from $600.00 to $680.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the investment management company’s stock.

A number of other analysts have also recently issued reports on GS. Bank of America upped their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer upped their target price on 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. Barclays upped their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price 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. Finally, JPMorgan Chase & Co. upped their target price 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. Five 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 has an average rating of “Moderate Buy” and an average target price of $535.75.

The Goldman Sachs Group Trading Up 0.8 %

NYSE:GS opened at $593.54 on Friday. The stock has a 50-day simple moving average of $518.10 and a 200-day simple moving average of $489.21. The stock has a market cap of $186.32 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group has a 1 year low of $334.55 and a 1 year high of $607.15. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.47 EPS. As a group, analysts anticipate that The Goldman Sachs Group will post 37.15 earnings per share for the current fiscal 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 paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis 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 35.21%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now 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 SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction that occurred 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 owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Waddell & Associates LLC grew its holdings in shares of The Goldman Sachs Group by 2.1% in the 3rd quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock worth $444,000 after acquiring an additional 18 shares during the period. Wescott Financial Advisory Group LLC grew its holdings in The Goldman Sachs Group by 0.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock valued at $1,346,000 after buying an additional 18 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after buying an additional 20 shares during the last quarter. First Pacific Financial grew its holdings in The Goldman Sachs Group by 0.6% during the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after buying an additional 20 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its holdings in The Goldman Sachs Group by 1.7% during the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.