Goldman Sachs Group (NYSE:GS) had its price objective lifted by Bank of America from $230.00 to $233.00 in a research note released on Friday morning, BenzingaRatingsTable reports. Bank of America currently has a buy rating on the investment management company’s stock.
Several other research analysts have also commented on GS. Barclays reissued a hold rating and issued a $236.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, April 9th. Wells Fargo & Co reissued a buy rating and issued a $255.00 price objective on shares of Goldman Sachs Group in a research note on Tuesday, June 30th. Seaport Global Securities started coverage on shares of Goldman Sachs Group in a research note on Wednesday, July 8th. They issued a buy rating and a $261.00 price objective for the company. JPMorgan Chase & Co. reiterated a buy rating and issued a $215.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, June 16th. Finally, Deutsche Bank upgraded shares of Goldman Sachs Group from a hold rating to a buy rating in a research note on Thursday, June 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $233.32.
Shares of GS opened at $205.56 on Friday. The firm has a 50-day simple moving average of $200.54 and a two-hundred day simple moving average of $202.16. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.79 and a quick ratio of 0.79. Goldman Sachs Group has a 1-year low of $130.85 and a 1-year high of $250.46. The stock has a market cap of $70.69 billion, a PE ratio of 11.17, a P/E/G ratio of 5.72 and a beta of 1.46.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, April 15th. The investment management company reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.28. Goldman Sachs Group had a net margin of 14.04% and a return on equity of 9.26%. The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $7.92 billion. During the same quarter last year, the firm posted $5.71 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that Goldman Sachs Group will post 15.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 1st were given a dividend of $1.25 per share. The ex-dividend date was Friday, May 29th. This represents a $5.00 annualized dividend and a dividend yield of 2.43%. Goldman Sachs Group’s dividend payout ratio is presently 23.78%.
Several large investors have recently modified their holdings of the company. Jennison Associates LLC increased its holdings in shares of Goldman Sachs Group by 303.0% in the 1st quarter. Jennison Associates LLC now owns 3,562,391 shares of the investment management company’s stock valued at $550,710,000 after acquiring an additional 2,678,477 shares during the period. Norges Bank acquired a new position in shares of Goldman Sachs Group in the 4th quarter valued at $605,865,000. Nuveen Asset Management LLC increased its holdings in shares of Goldman Sachs Group by 38.7% in the 4th quarter. Nuveen Asset Management LLC now owns 2,915,111 shares of the investment management company’s stock valued at $670,272,000 after acquiring an additional 814,010 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Goldman Sachs Group by 5.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,218,642 shares of the investment management company’s stock valued at $1,734,290,000 after acquiring an additional 539,838 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Goldman Sachs Group by 19.2% in the 1st quarter. Alliancebernstein L.P. now owns 3,170,957 shares of the investment management company’s stock valued at $490,198,000 after acquiring an additional 510,619 shares during the period. Institutional investors and hedge funds own 68.07% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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