The Goldman Sachs Group (NYSE:GS) Price Target Raised to $790.00 at Deutsche Bank Aktiengesellschaft

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $725.00 to $790.00 in a report released on Tuesday morning,MarketScreener reports. They currently have a hold rating on the investment management company’s stock.

A number of other research analysts have also recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $690.27.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $796.20 on Tuesday. The Goldman Sachs Group has a twelve month low of $439.38 and a twelve month high of $825.25. The stock has a market capitalization of $241.02 billion, a P/E ratio of 17.55, a PEG ratio of 1.67 and a beta of 1.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The business’s fifty day moving average price is $751.18 and its 200 day moving average price is $650.88.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the firm earned $8.62 earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is currently 35.26%.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,008 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 over the last three months. 0.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $25,000. Dogwood Wealth Management LLC grew its holdings in The Goldman Sachs Group by 1,800.0% in 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 in the last quarter. American Capital Advisory LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. grew its holdings in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after buying an additional 34 shares in the last quarter. Finally, Clearstead Trust LLC bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $31,000. 71.21% of the stock is owned by institutional investors.

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.