The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $785.00 to $855.00. Wells Fargo & Company currently has an overweight rating on the stock. The Goldman Sachs Group traded as high as $794.00 and last traded at $792.89, with a volume of 140302 shares changing hands. The stock had previously closed at $785.53.
A number of other equities research analysts have also recently weighed in on GS. HSBC restated a "reduce" rating and set a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. JMP Securities reaffirmed a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Morgan Stanley lifted their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $665.00.
Get Our Latest Research Report on GS
Insiders Place Their Bets
In related news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the sale, the chief operating officer owned 115,268 shares of the company's stock, valued at $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by insiders.
Institutional Trading of The Goldman Sachs Group
A number of institutional investors have recently modified their holdings of GS. Dogwood Wealth Management LLC increased its stake in shares of The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock valued at $26,000 after buying an additional 36 shares during the period. Clearstead Trust LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $31,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $25,000. Graney & King LLC boosted its position in shares of The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company's stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $31,000. 71.21% of the stock is currently owned by institutional investors.
The Goldman Sachs Group Trading Up 0.0%
The firm has a fifty day simple moving average of $738.03 and a 200-day simple moving average of $638.30. The firm has a market cap of $243.52 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $8.62 earnings per share. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.
The Goldman Sachs Group Increases Dividend
The company 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 $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.
The Goldman Sachs Group Company Profile
(
Get Free Report)
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.
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