The Goldman Sachs Group (NYSE:GS) Price Target Raised to $955.00

The Goldman Sachs Group (NYSE:GS) had its target price lifted by JPMorgan Chase & Co. from $900.00 to $955.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the investment management company’s stock.

Several other equities analysts have also recently commented on the stock. CICC Research boosted their price target on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Dbs Bank increased their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Rothschild & Co Redburn lifted their price objective on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Morgan Stanley set a $1,145.00 target price on The Goldman Sachs Group in a research note on Wednesday. Finally, BMO Capital Markets upped their target price on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the stock a “market perform” rating in a research report on Monday, June 29th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1,061.43.

The Goldman Sachs Group Price Performance

NYSE GS opened at $1,066.28 on Wednesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The firm has a market capitalization of $314.56 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.30. The company has a 50 day simple moving average of $1,035.20 and a 200-day simple moving average of $945.44. The Goldman Sachs Group has a 52-week low of $691.88 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The firm had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same period in the previous year, the firm posted $10.91 earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group will post 64.34 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 10,301 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,566 shares of company stock worth $30,712,978 over the last quarter. Company insiders own 0.55% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Large investors have recently made changes to their positions in the stock. Acropolis Investment Management LLC lifted its position in The Goldman Sachs Group by 1.8% during the fourth quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock worth $554,000 after purchasing an additional 11 shares during the period. Walkner Condon Financial Advisors LLC grew its stake in The Goldman Sachs Group by 2.0% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock worth $505,000 after buying an additional 11 shares in the last quarter. Optas LLC increased its holdings in The Goldman Sachs Group by 0.4% in the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock valued at $2,244,000 after buying an additional 11 shares during the period. Pines Wealth Management LLC increased its holdings in The Goldman Sachs Group by 0.4% in the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after buying an additional 11 shares during the period. Finally, Welch & Forbes LLC raised its position in shares of The Goldman Sachs Group by 0.8% in the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after buying an additional 11 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.