Dbs Bank Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price target raised by Dbs Bank from $800.00 to $890.00 in a research note published on Thursday,MarketScreener reports. Dbs Bank currently has a buy rating on the investment management company’s stock.

Several other equities analysts have also issued reports on GS. Citigroup boosted their target price on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Daiwa Capital Markets boosted their price objective 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. BNP Paribas Exane raised their target price on The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. UBS Group boosted their price target on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $786.00.

The Goldman Sachs Group Stock Down 1.9%

Shares of NYSE:GS traded down $14.94 during midday trading on Thursday, hitting $790.56. The stock had a trading volume of 2,551,879 shares, compared to its average volume of 2,370,708. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The business’s 50-day simple moving average is $784.04 and its 200-day simple moving average is $707.77. The company has a market cap of $237.11 billion, a P/E ratio of 16.06, a PEG ratio of 1.43 and a beta of 1.41. The Goldman Sachs Group has a 12 month low of $439.38 and a 12 month high of $841.28.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating the consensus estimate of $10.27 by $1.98. The company had revenue of $15.18 billion for the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.40 earnings per share. On average, sell-side analysts forecast that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s payout ratio is presently 32.50%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after acquiring an additional 508 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after purchasing an additional 58 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in The Goldman Sachs Group by 37.0% in the first quarter. Cullen Frost Bankers Inc. now owns 100 shares of the investment management company’s stock valued at $55,000 after purchasing an additional 27 shares during the last quarter. Bailard Inc. raised its holdings in The Goldman Sachs Group by 15.4% in the first quarter. Bailard Inc. now owns 1,838 shares of the investment management company’s stock worth $1,004,000 after purchasing an additional 245 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 6.0% during the first quarter. Kingsview Wealth Management LLC now owns 4,435 shares of the investment management company’s stock valued at $2,423,000 after buying an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.