The Goldman Sachs Group (NYSE:GS) Sets New 1-Year High on Analyst Upgrade

Shares of The Goldman Sachs Group, Inc. (NYSE:GS) hit a new 52-week high on Wednesday after Morgan Stanley raised their price target on the stock from $513.00 to $561.00. Morgan Stanley currently has an overweight rating on the stock. The Goldman Sachs Group traded as high as $510.38 and last traded at $507.14, with a volume of 83443 shares. The stock had previously closed at $505.67.

A number of other research analysts have also weighed in on GS. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday, April 16th. JMP Securities upped their target price on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Oppenheimer upped their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Barclays upped their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $487.41.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,013,500 shares of company stock worth $32,181,365. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of large investors have recently modified their holdings of GS. First Personal Financial Services purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth about $25,000. First United Bank & Trust acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $26,000. POM Investment Strategies LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $26,000. Versant Capital Management Inc grew its stake in shares of The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 0.3 %

The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The firm has a market cap of $163.56 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.00 and a beta of 1.37. The business has a 50 day moving average price of $467.35 and a 200-day moving average price of $426.70.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

The Goldman Sachs Group Company Profile

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.