JPMorgan Chase & Co. Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

The Goldman Sachs Group (NYSE:GS) had its target price lifted by JPMorgan Chase & Co. from $550.00 to $605.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Oppenheimer lowered their price objective on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, JMP Securities boosted their price objective on shares of 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. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $589.19.

The Goldman Sachs Group Trading Up 1.0 %

Shares of The Goldman Sachs Group stock opened at $612.17 on Thursday. 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 has a 1 year low of $372.07 and a 1 year high of $616.84. The company has a market capitalization of $192.17 billion, a P/E ratio of 17.96, a P/E/G ratio of 0.66 and a beta of 1.38. The business has a 50 day moving average price of $585.87 and a 200 day moving average price of $528.13.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the firm posted $5.48 EPS. Sell-side analysts anticipate that The Goldman Sachs Group will post 37.24 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $3.00 per share. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 1.96%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the transaction, the chief executive officer now owns 117,883 shares in the company, valued at approximately $72,015,903.53. This represents a 5.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,940 shares of company stock worth $12,656,179 over the last quarter. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Semmax Financial Advisors Inc. bought a new position in shares of The Goldman Sachs Group in the second quarter valued at approximately $26,000. West Branch Capital LLC bought a new stake in The Goldman Sachs Group during the third quarter worth approximately $30,000. DT Investment Partners LLC boosted its holdings in The Goldman Sachs Group by 110.0% during the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after buying an additional 33 shares in the last quarter. Quest Partners LLC boosted its holdings in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after buying an additional 63 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in The Goldman Sachs Group during the third quarter worth approximately $34,000. 71.21% of the stock is currently owned by institutional investors.

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.