Bank of America Raises The Goldman Sachs Group (NYSE:GS) Price Target to $575.00

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by Bank of America from $563.00 to $575.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the investment management company’s stock.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Morgan Stanley lifted their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays boosted their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI increased their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, Citigroup upped their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. 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 Down 0.1 %

Shares of NYSE GS opened at $528.36 on Wednesday. The business has a 50-day moving average price of $498.15 and a 200 day moving average price of $469.05. The stock has a market cap of $170.38 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $540.51.

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

The Goldman Sachs Group Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds have recently added to or reduced their stakes in the business. Calton & Associates Inc. grew its position in shares of The Goldman Sachs Group by 453.3% in the third quarter. Calton & Associates Inc. now owns 10,281 shares of the investment management company’s stock valued at $5,090,000 after purchasing an additional 8,423 shares during the last quarter. Vest Financial LLC raised its position in shares of The Goldman Sachs Group by 196.1% during the 3rd quarter. Vest Financial LLC now owns 1,510 shares of the investment management company’s stock worth $748,000 after purchasing an additional 1,000 shares during the last quarter. West Branch Capital LLC purchased a new stake in The Goldman Sachs Group in the 3rd quarter valued at approximately $30,000. Cyndeo Wealth Partners LLC grew its holdings in The Goldman Sachs Group by 14.2% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 3,769 shares of the investment management company’s stock valued at $1,866,000 after buying an additional 468 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management purchased a new position in The Goldman Sachs Group during the third quarter worth $211,000. 71.21% of the stock is currently owned by hedge funds and other 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.