JPMorgan Chase & Co. Analysts Give Goldman Sachs Group Inc. (GS) a $176.00 Price Target
Goldman Sachs Group Inc. (NYSE:GS) has been assigned a $176.00 price target by research analysts at JPMorgan Chase & Co. in a research note issued on Thursday. The brokerage presently has a a “buy” rating on the investment management company’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 5.37% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. Vetr downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $165.45 price target on the stock. in a report on Thursday, September 8th. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a report on Tuesday. Nomura reiterated a “buy” rating and issued a $197.00 price target (up from $195.00) on shares of Goldman Sachs Group in a report on Tuesday, July 19th. TheStreet upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Finally, RBC Capital Markets reiterated a “hold” rating and issued a $150.00 price target (up from $145.00) on shares of Goldman Sachs Group in a report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Goldman Sachs Group presently has a consensus rating of “Hold” and an average price target of $180.41.
Goldman Sachs Group (NYSE:GS) opened at 167.03 on Thursday. The firm has a 50-day moving average price of $166.10 and a 200-day moving average price of $158.40. The company has a market cap of $71.22 billion, a P/E ratio of 15.83 and a beta of 1.68. Goldman Sachs Group has a 12-month low of $138.20 and a 12-month high of $199.90.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.00 by $0.72. The company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.58 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. During the same period last year, the business posted $1.98 EPS. On average, analysts forecast that Goldman Sachs Group will post $14.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 1st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a yield of 1.56%. Goldman Sachs Group’s payout ratio is 24.60%.
In related news, EVP Edith W. Cooper sold 14,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $166.11, for a total value of $2,325,540.00. Following the completion of the transaction, the executive vice president now owns 33,634 shares of the company’s stock, valued at approximately $5,586,943.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total value of $452,880.00. Following the completion of the transaction, the insider now directly owns 13,075 shares of the company’s stock, valued at approximately $2,222,750. The disclosure for this sale can be found here. 2.61% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in GS. Evercore Wealth Management LLC raised its stake in Goldman Sachs Group by 10.7% in the second quarter. Evercore Wealth Management LLC now owns 2,180 shares of the investment management company’s stock valued at $324,000 after buying an additional 210 shares during the period. Macquarie Group Ltd. raised its stake in Goldman Sachs Group by 26.3% in the second quarter. Macquarie Group Ltd. now owns 112,955 shares of the investment management company’s stock valued at $16,783,000 after buying an additional 23,529 shares during the period. Carnick & Kubik Group LLC purchased a new stake in Goldman Sachs Group during the second quarter valued at approximately $254,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Goldman Sachs Group during the second quarter valued at approximately $2,318,000. Finally, Kentucky Retirement Systems purchased a new stake in Goldman Sachs Group during the second quarter valued at approximately $4,881,000. 70.77% of the stock is owned by institutional investors.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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