The Goldman Sachs Group (NYSE:GS) Price Target Raised to $570.00 at Keefe, Bruyette & Woods

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by Keefe, Bruyette & Woods from $555.00 to $570.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

Other equities research analysts have also issued research reports about the stock. Bank of America upped their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets increased their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup raised their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Stock Up 1.4 %

Shares of NYSE GS opened at $529.86 on Wednesday. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $540.51. The stock’s 50-day simple moving average is $496.53 and its 200-day simple moving average is $467.83. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $170.86 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 earnings per share. As a group, equities analysts anticipate that The Goldman Sachs Group will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Procyon Advisors LLC lifted its holdings in 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 worth $411,000 after purchasing an additional 43 shares during the period. Brookstone Capital Management lifted its stake in shares of 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 worth $2,268,000 after acquiring an additional 761 shares during the period. Empowered Funds LLC lifted its stake in shares of The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after acquiring an additional 2,428 shares during the period. Duality Advisers LP bought a new position in shares of The Goldman Sachs Group in the first quarter valued at approximately $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of The Goldman Sachs Group by 34.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after acquiring an additional 2,103 shares during the period. Institutional investors 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.