The Goldman Sachs Group (NYSE:GS) Reaches New 1-Year High on Analyst Upgrade

Shares of The Goldman Sachs Group, Inc. (NYSE:GS) hit a new 52-week high during trading on Wednesday 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 $587.42 and last traded at $577.99, with a volume of 304045 shares. The stock had previously closed at $526.96.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. JMP Securities upped their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Evercore ISI raised their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $527.63.

Insider Transactions at The Goldman Sachs Group

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

Institutional Trading of The Goldman Sachs Group

A number of institutional investors have recently bought and sold shares of GS. Procyon Advisors LLC raised its position in shares of The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after buying an additional 43 shares in the last quarter. Brookstone Capital Management raised its holdings in The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares in the last quarter. Empowered Funds LLC lifted its position in shares of The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after acquiring an additional 2,428 shares during the period. Duality Advisers LP bought a new stake in The Goldman Sachs Group during the first quarter worth about $1,388,000. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 25.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

The stock has a fifty day simple moving average of $504.77 and a two-hundred day simple moving average of $480.57. The stock has a market cap of $183.85 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 0.74 and a beta of 1.35. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the company earned $5.47 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, December 2nd. 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.