The Goldman Sachs Group (NYSE:GS) Shares Up 1.5% After Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS) shot up 1.5% on Tuesday after Oppenheimer raised their price target on the stock from $614.00 to $661.00. Oppenheimer currently has an outperform rating on the stock. The Goldman Sachs Group traded as high as $520.54 and last traded at $519.03. 389,595 shares traded hands during trading, a decline of 82% from the average session volume of 2,181,436 shares. The stock had previously closed at $511.47.

Several other brokerages have also recently issued reports on GS. Evercore ISI increased their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. JMP Securities upped 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 report on Wednesday, October 9th. UBS Group upped their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $527.63.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in the stock. Norden Group LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth $220,000. RiverPark Advisors LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth $45,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of The Goldman Sachs Group by 34.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after acquiring an additional 2,103 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of The Goldman Sachs Group by 3.3% during the first quarter. Rehmann Capital Advisory Group now owns 2,973 shares of the investment management company’s stock valued at $1,242,000 after purchasing an additional 94 shares during the last quarter. Finally, Callan Capital LLC acquired a new position in shares of The Goldman Sachs Group in the first quarter worth about $273,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 2.5 %

The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11. The stock has a market cap of $165.51 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The business’s 50 day moving average is $502.52 and its 200 day moving average is $478.89.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the prior year, the business earned $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts expect that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

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 2.29%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

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.