JPMorgan Chase & Co. Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GSFree Report) had its target price upped by JPMorgan Chase & Co. from $815.00 to $826.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

Several other equities research analysts have also issued reports on GS. Jefferies Financial Group lifted their price target on shares of The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Barclays increased their price objective on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. BMO Capital Markets lifted their target price on The Goldman Sachs Group from $980.00 to $985.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada upped their target price on The Goldman Sachs Group from $900.00 to $1,030.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $971.00 to $1,000.00 and gave the company a “market perform” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $919.29.

Get Our Latest Analysis on The Goldman Sachs Group

The Goldman Sachs Group Price Performance

Shares of GS opened at $833.18 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.60. The Goldman Sachs Group has a twelve month low of $439.38 and a twelve month high of $984.70. The stock has a market capitalization of $247.25 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.02 and a beta of 1.34. The company has a 50 day moving average of $916.39 and a 200-day moving average of $843.25.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its quarterly earnings data on Thursday, January 15th. The investment management company reported $13.55 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.72%. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the firm posted $11.95 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be issued a dividend of $4.50 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.00. This represents a $18.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, March 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.09%.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 11,623 shares of The Goldman Sachs Group stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $941.57, for a total transaction of $10,943,868.11. Following the completion of the sale, the chief financial officer directly owned 29,342 shares of the company’s stock, valued at approximately $27,627,546.94. This trade represents a 28.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Viniar sold 45,000 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $965.33, for a total value of $43,439,850.00. Following the completion of the sale, the director owned 555,000 shares of the company’s stock, valued at $535,758,150. This trade represents a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 117,283 shares of company stock valued at $112,016,033 in the last ninety days. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dagco Inc. acquired a new stake in The Goldman Sachs Group in the 4th quarter worth about $25,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its holdings in shares of 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 worth $27,000 after purchasing an additional 23 shares during the period. Finally, First PREMIER Bank bought a new position in shares of The Goldman Sachs Group during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group News Roundup

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

The Goldman Sachs Group Company Profile

(Get Free Report)

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.

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