The Goldman Sachs Group (NYSE:GS) Stock Price Up 1.5% After Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price rose 1.5% on Tuesday after Oppenheimer raised their price target on the stock from $614.00 to $661.00. Oppenheimer currently has an outperform rating on the stock. The Goldman Sachs Group traded as high as $520.54 and last traded at $519.03. Approximately 389,595 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,181,436 shares. The stock had previously closed at $511.47.

A number of other brokerages have also issued reports on GS. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Bank of America increased their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $527.63.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group in the 2nd quarter valued at about $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its stake in The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, West Branch Capital LLC acquired a new position in The Goldman Sachs Group in the third quarter worth $30,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 13.1 %

The stock has a market cap of $188.21 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The firm’s 50 day simple moving average is $504.77 and its two-hundred day simple moving average is $480.57. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.47 EPS. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.01%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

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.