The Goldman Sachs Group (NYSE:GS) Upgraded at Zacks Research

Zacks Research upgraded shares of The Goldman Sachs Group (NYSE:GS) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on GS. CICC Research increased their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Bank of America increased their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Daiwa Securities Group increased their price target on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, Dbs Bank upped their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,061.43.

The Goldman Sachs Group Stock Down 2.7%

Shares of The Goldman Sachs Group stock opened at $1,066.28 on Thursday. The Goldman Sachs Group has a 1 year low of $691.88 and a 1 year high of $1,153.99. The firm has a market cap of $314.56 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.20 and a beta of 1.30. The company has a 50-day moving average of $1,035.20 and a 200 day moving average of $945.44. 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 Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping the consensus estimate 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 business had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same quarter in the previous year, the firm posted $10.91 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Goldman Sachs Group will post 66.83 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $5.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio is 30.87%.

Insider Activity at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the transaction, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,566 shares of company stock valued at $30,712,978 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Several institutional investors have recently made changes to their positions in GS. Dagco Inc. bought a new position in The Goldman Sachs Group in the fourth quarter worth approximately $25,000. Turim 21 Investimentos Ltda. bought a new position in The Goldman Sachs Group in the 1st quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth $26,000. Manning & Napier Advisors LLC lifted its position in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Finally, Steph & Co. bought a new stake in The Goldman Sachs Group during the first quarter valued at about $27,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

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.