JPMorgan Chase & Co. Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $520.00

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by JPMorgan Chase & Co. from $472.00 to $520.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

A number of other equities research analysts also recently weighed in on GS. Barclays lifted their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer raised their price target on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, JMP Securities raised their target price on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Up 1.4 %

Shares of GS opened at $529.86 on Wednesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50-day simple moving average of $496.53 and a 200-day simple moving average of $467.83. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $540.51. The firm has a market capitalization of $170.86 billion, a P/E ratio of 20.69, a P/E/G ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly 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 10.56% and a net margin of 9.36%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the firm posted $5.47 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts expect that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

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

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group in the second quarter valued at about $26,000. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the period. 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.