The Goldman Sachs Group (NYSE:GS) Price Target Raised to $720.00 at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its target price lifted by Wells Fargo & Company from $680.00 to $720.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

A number of other equities analysts have also weighed in on GS. Oppenheimer reduced their price objective on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their target price for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Finally, Citigroup raised their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $593.56.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $625.70 on Wednesday. The Goldman Sachs Group has a one year low of $381.42 and a one year high of $672.19. The stock has a market cap of $195.24 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 0.93 and a beta of 1.39. The business’s fifty day moving average price is $611.58 and its two-hundred day moving average price is $557.71. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.48 EPS. On average, analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

Insider Buying and Selling

In related news, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the sale, the insider now directly owns 3,545 shares in the company, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the transaction, the treasurer now owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,475 shares of company stock valued at $19,692,543. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors have recently added to or reduced their stakes in the company. Stephens Consulting LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at about $26,000. Asset Planning Inc acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $29,000. Curio Wealth LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth approximately $30,000. DT Investment Partners LLC grew its position in shares of The Goldman Sachs Group by 110.0% during the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after buying an additional 33 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. 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.