The Goldman Sachs Group (NYSE:GS) Price Target Raised to $588.00 at Barclays

The Goldman Sachs Group (NYSE:GS) had its target price boosted by Barclays from $565.00 to $588.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the investment management company’s stock.

A number of other equities analysts also recently commented on GS. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. JMP Securities increased their target price on 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. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, 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 note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $529.86 on Wednesday. The business’s 50-day moving average price is $496.53 and its 200 day moving average price is $467.83. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $540.51. The company has a market capitalization of $170.86 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $5.47 EPS. On average, research analysts predict that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. lifted its holdings in shares of 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 worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

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.