JPMorgan Chase & Co. Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

The Goldman Sachs Group (NYSE:GS) had its price target upped by JPMorgan Chase & Co. from $520.00 to $550.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the investment management company’s stock.

Other research analysts also recently issued research reports about the company. Oppenheimer raised their price target on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. JMP Securities upped their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Finally, Bank of America lifted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $559.75.

The Goldman Sachs Group Trading Up 0.5 %

NYSE GS opened at $599.68 on Friday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $188.25 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 0.87 and a beta of 1.38. The firm has a 50 day simple moving average of $551.28 and a 200-day simple moving average of $504.41. The Goldman Sachs Group has a one year low of $342.00 and a one year high of $612.73.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly 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 net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the company posted $5.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued 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 yield of 2.00%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Transactions at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,550 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the transaction, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at $72,015,903.53. This trade represents a 5.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,940 shares of company stock valued at $13,717,979 in the last ninety days. Corporate insiders own 0.54% 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. OLD National Bancorp IN boosted its position in The Goldman Sachs Group by 0.8% during the second quarter. OLD National Bancorp IN now owns 3,442 shares of the investment management company’s stock worth $1,557,000 after acquiring an additional 26 shares during the last quarter. Atlas Private Wealth Advisors acquired a new stake in The Goldman Sachs Group during the second quarter worth approximately $255,000. Diversify Advisory Services LLC boosted its position in The Goldman Sachs Group by 8.2% during the second quarter. Diversify Advisory Services LLC now owns 4,672 shares of the investment management company’s stock worth $2,209,000 after acquiring an additional 356 shares during the last quarter. Quad Cities Investment Group LLC acquired a new stake in The Goldman Sachs Group during the second quarter worth approximately $215,000. Finally, Czech National Bank boosted its holdings in shares of The Goldman Sachs Group by 7.1% in the 2nd quarter. Czech National Bank now owns 61,449 shares of the investment management company’s stock valued at $27,795,000 after purchasing an additional 4,070 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.