Morgan Stanley Raises The Goldman Sachs Group (NYSE:GS) Price Target to $715.00

The Goldman Sachs Group (NYSE:GS - Free Report) had its price target increased by Morgan Stanley from $680.00 to $715.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the investment management company's stock.

A number of other research firms have also recently weighed in on GS. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Citigroup reduced their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, JMP Securities reiterated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $630.87.

The Goldman Sachs Group Price Performance

NYSE GS traded down $2.20 during trading hours on Thursday, hitting $706.62. 2,043,921 shares of the company's stock traded hands, compared to its average volume of 2,370,571. The Goldman Sachs Group has a 52-week low of $437.37 and a 52-week high of $726.00. The company has a market capitalization of $216.82 billion, a PE ratio of 15.57, a PEG ratio of 0.97 and a beta of 1.35. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The firm's 50-day moving average is $641.38 and its 200-day moving average is $599.03.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the prior year, the company posted $8.62 EPS. The business's revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Institutional Trading of The Goldman Sachs Group

Several large investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group during the first quarter worth approximately $25,000. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group during the first quarter worth approximately $29,000. Godsey & Gibb Inc. raised its stake in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares during the period. Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.