The Goldman Sachs Group (NYSE:GS) Receives “Neutral” Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their neutral rating on shares of The Goldman Sachs Group (NYSE:GS) in a research report released on Tuesday morning,MarketScreener Latest Ratings reports. The brokerage currently has a $843.00 target price on the investment management company’s stock.

GS has been the subject of several other research reports. Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Evercore ISI boosted their price target on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. HSBC boosted their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Daiwa Capital Markets boosted their price target on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley increased their price objective on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $746.69.

The Goldman Sachs Group Stock Down 2.0%

Shares of The Goldman Sachs Group stock opened at $771.44 on Tuesday. The stock has a 50-day moving average price of $763.05 and a 200 day moving average price of $666.12. The company has a market cap of $233.53 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.48 and a beta of 1.42. 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 Goldman Sachs Group has a 1 year low of $439.38 and a 1 year high of $825.25.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The firm had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $8.40 EPS. As a group, analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.26%.

Insiders Place Their Bets

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

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently modified their holdings of GS. Canada Pension Plan Investment Board lifted its position in shares of The Goldman Sachs Group by 28.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after buying an additional 116,535 shares during the period. Clear Creek Financial Management LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $321,000. Blueshift Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after buying an additional 652 shares during the period. Adams Diversified Equity Fund Inc. lifted its position in shares of The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after buying an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $1,643,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

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.