Citigroup Inc. Increases Goldman Sachs Group Inc. (GS) Price Target to $195.00
Goldman Sachs Group Inc. (NYSE:GS) had its price objective hoisted by stock analysts at Citigroup Inc. from $180.00 to $195.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the investment management company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 15.36% from the stock’s current price.
Several other brokerages also recently weighed in on GS. TheStreet raised Goldman Sachs Group from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. set a $176.00 target price on Goldman Sachs Group and gave the company a “buy” rating in a research note on Thursday, September 22nd. Oppenheimer Holdings Inc. boosted their price objective on Goldman Sachs Group from $222.00 to $223.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Deutsche Bank AG reissued a “hold” rating on shares of Goldman Sachs Group in a research note on Sunday, June 26th. Finally, Zacks Investment Research downgraded Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $181.82.
Goldman Sachs Group (NYSE:GS) opened at 169.04 on Monday. Goldman Sachs Group has a 52-week low of $138.20 and a 52-week high of $199.90. The company’s 50-day moving average price is $166.62 and its 200 day moving average price is $159.56. The stock has a market capitalization of $72.08 billion, a P/E ratio of 16.02 and a beta of 1.61.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.72. The firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.58 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. During the same quarter in the previous year, the business earned $1.98 EPS. On average, equities research analysts anticipate that Goldman Sachs Group will post $14.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st were given a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.54%. Goldman Sachs Group’s dividend payout ratio is currently 24.60%.
In related news, insider Sarah G. Smith sold 2,664 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the transaction, the insider now owns 13,075 shares of the company’s stock, valued at approximately $2,222,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edith W. Cooper sold 14,000 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $166.11, for a total value of $2,325,540.00. Following the transaction, the executive vice president now directly owns 33,634 shares of the company’s stock, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Pictet Asset Management Ltd. boosted its position in Goldman Sachs Group by 0.6% in the first quarter. Pictet Asset Management Ltd. now owns 212,227 shares of the investment management company’s stock valued at $31,734,000 after buying an additional 1,200 shares in the last quarter. Rafferty Asset Management LLC boosted its position in Goldman Sachs Group by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 57,004 shares of the investment management company’s stock valued at $8,948,000 after buying an additional 18,789 shares in the last quarter. Gardner Lewis Asset Management L P boosted its position in Goldman Sachs Group by 11.7% in the first quarter. Gardner Lewis Asset Management L P now owns 15,610 shares of the investment management company’s stock valued at $2,450,000 after buying an additional 1,635 shares in the last quarter. Pegasus Partners Ltd. acquired a new position in Goldman Sachs Group during the first quarter valued at $712,000. Finally, Kiltearn Partners LLP boosted its position in Goldman Sachs Group by 35.7% in the first quarter. Kiltearn Partners LLP now owns 1,402,853 shares of the investment management company’s stock valued at $220,220,000 after buying an additional 369,000 shares in the last quarter. 70.77% of the stock is owned by institutional investors and hedge funds.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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