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

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

A number of other research firms also recently issued reports on GS. Morgan Stanley boosted their price target on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group boosted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Citigroup boosted their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $593.56.

The Goldman Sachs Group Price Performance

NYSE GS opened at $668.02 on Wednesday. The Goldman Sachs Group has a one year low of $380.85 and a one year high of $672.19. The stock has a 50-day moving average of $609.75 and a 200 day moving average of $555.95. The company has a market capitalization of $207.39 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.92 and a beta of 1.39. 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 released its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the company earned $5.48 EPS. On average, sell-side analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 1.80%. 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 business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the transaction, the insider now directly owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. The trade was a 59.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Carey Halio sold 3,640 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $636.74, for a total value of $2,317,733.60. Following the completion of the transaction, the treasurer now directly owns 4,552 shares in the company, valued at approximately $2,898,440.48. This represents a 44.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,475 shares of company stock valued at $19,692,543. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Stephens Consulting LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $26,000. Asset Planning Inc bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $29,000. Curio Wealth LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $30,000. DT Investment Partners LLC boosted its position in shares of The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 33 shares during the last quarter. Finally, Transce3nd LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $31,000. 71.21% of the stock is currently owned by institutional investors.

About The Goldman Sachs Group

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.