Brokerages Set Goldman Sachs Group Inc (GS) Price Target at $277.64

Shares of Goldman Sachs Group Inc (NYSE:GS) have been assigned a consensus rating of “Hold” from the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $280.03.

GS has been the topic of several recent research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Goldman Sachs Group in a research note on Tuesday. Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price objective on the stock in a research note on Friday, July 20th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Goldman Sachs Group in a research note on Thursday, September 20th. Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating on the stock in a research note on Wednesday, July 18th.

In related news, insider David M. Solomon sold 8,488 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total transaction of $2,019,464.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.57% of the company’s stock.

Several hedge funds have recently bought and sold shares of GS. Moneta Group Investment Advisors LLC lifted its stake in Goldman Sachs Group by 7,719.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after acquiring an additional 23,157 shares during the last quarter. Zions Bancorporation bought a new position in shares of Goldman Sachs Group in the second quarter valued at approximately $109,000. First Mercantile Trust Co. bought a new position in shares of Goldman Sachs Group in the second quarter valued at approximately $110,000. Squar Milner Financial Services LLC bought a new position in shares of Goldman Sachs Group in the second quarter valued at approximately $157,000. Finally, Canton Hathaway LLC bought a new position in shares of Goldman Sachs Group in the third quarter valued at approximately $174,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

Shares of GS traded up $2.32 during mid-day trading on Friday, hitting $227.27. The company’s stock had a trading volume of 199,986 shares, compared to its average volume of 3,155,157. The stock has a market capitalization of $86.19 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.72 and a beta of 1.28. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.90 and a quick ratio of 0.90. Goldman Sachs Group has a fifty-two week low of $210.95 and a fifty-two week high of $275.31.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 16th. The investment management company reported $6.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.38 by $0.90. The company had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.43 billion. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 13.57%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.02 EPS. As a group, equities research analysts forecast that Goldman Sachs Group will post 24.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, November 29th. Goldman Sachs Group’s payout ratio is 16.19%.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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