The Goldman Sachs Group (NYSE:GS) PT Raised to $577.00 at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its price target lifted by Oppenheimer from $548.00 to $577.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

Several other research analysts have also weighed in on GS. Seaport Res Ptn lowered The Goldman Sachs Group from a strong-buy rating to a hold rating in a research report on Tuesday, July 2nd. UBS Group upped their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a buy rating in a report on Tuesday, July 9th. Wolfe Research raised shares of The Goldman Sachs Group to a hold rating in a research report on Wednesday, September 18th. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued 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. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $497.56.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $495.16 on Wednesday. The company has a 50-day moving average of $492.29 and a two-hundred day moving average of $462.14. The stock has a market cap of $159.67 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.78 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $517.26.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. On average, equities research analysts expect that The Goldman Sachs Group will post 35.43 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of GS. POM Investment Strategies LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $27,000. Versant Capital Management Inc increased its holdings in shares of The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after acquiring an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.