The Goldman Sachs Group (NYSE:GS) Trading Up 12.1% Following Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price rose 12.1% 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 $595.55 and last traded at $590.67. Approximately 3,494,288 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 2,196,070 shares. The stock had previously closed at $526.96.

Several other analysts have also commented on the company. Morgan Stanley increased their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group boosted their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Citigroup upped their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $527.63.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

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

The Goldman Sachs Group Stock Down 2.3 %

The firm has a market capitalization of $183.85 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.74 and a beta of 1.35. The business’s fifty day moving average price is $504.77 and its 200 day moving average price is $480.57. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data 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 firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.47 EPS. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.06%. The Goldman Sachs Group’s dividend payout ratio (DPR) 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.