Wells Fargo & Company Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its target price increased by Wells Fargo & Company from $785.00 to $855.00 in a report published on Tuesday morning, MarketBeat reports. They currently have an overweight rating on the investment management company’s stock.

Several other analysts have also issued reports on the stock. Citizens Jmp reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. JMP Securities reaffirmed a “market perform” rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. Finally, Citigroup raised their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $665.00.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $786.09 on Tuesday. The Goldman Sachs Group has a 52-week low of $439.38 and a 52-week high of $793.17. The company has a market cap of $237.97 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.65 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s 50-day simple moving average is $732.17 and its 200 day simple moving average is $633.97.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.62 EPS. As a group, sell-side analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $4.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company’s stock, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after buying an additional 36 shares during the last quarter. Clearstead Trust LLC bought a new position in The Goldman Sachs Group in the second quarter valued at about $31,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the first quarter worth about $25,000. Graney & King LLC lifted its holdings in shares of The Goldman Sachs Group by 51.5% in the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after acquiring an additional 17 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.