The Goldman Sachs Group (NYSE:GS) Price Target Raised to $715.00

The Goldman Sachs Group (NYSE:GS - Free Report) had its target price lifted by Evercore ISI from $630.00 to $715.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the investment management company's stock.

Several other research firms have also recently issued reports on GS. Barclays reduced their target price on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. JMP Securities reduced their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley upped their price target on The Goldman Sachs Group from $570.00 to $592.00 and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Royal Bank Of Canada dropped their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 15th. Finally, Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $603.73.

The Goldman Sachs Group Stock Performance

GS traded up $9.16 during trading hours on Wednesday, hitting $725.05. The stock had a trading volume of 1,502,041 shares, compared to its average volume of 2,395,824. The company's fifty day simple moving average is $617.08 and its 200 day simple moving average is $591.61. The Goldman Sachs Group has a 1 year low of $437.37 and a 1 year high of $726.00. The stock has a market cap of $222.47 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.99 and a beta of 1.35. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same quarter last year, the company posted $11.58 EPS. Equities analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.66%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the stock in a transaction on Tuesday, April 15th. The shares were bought at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the acquisition, the director owned 3,904 shares of the company's stock, valued at $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors have recently modified their holdings of GS. GAMMA Investing LLC increased its holdings in shares of The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after buying an additional 3,970,467 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group during the first quarter worth about $1,766,238,000. Norges Bank bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth about $944,334,000. Finally, Nuveen LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at approximately $897,185,000. Hedge funds and other institutional investors 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.