Goldman Sachs Group (GS) Given New $265.00 Price Target at Royal Bank of Canada

Goldman Sachs Group (NYSE:GS) had its price objective hoisted by Royal Bank of Canada to $265.00 in a report published on Thursday. They currently have a sector perform rating on the investment management company’s stock.

A number of other equities analysts have also weighed in on GS. BMO Capital Markets dropped their price objective on Goldman Sachs Group to $221.00 and set a market perform rating for the company in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Goldman Sachs Group in a research note on Tuesday, January 9th. Vining Sparks reaffirmed a hold rating and issued a $270.00 price objective on shares of Goldman Sachs Group in a research note on Monday, January 8th. Instinet reaffirmed an outperform rating and issued a $225.00 price objective (down previously from $238.00) on shares of Goldman Sachs Group in a research note on Thursday, January 4th. Finally, Barclays upped their price objective on Goldman Sachs Group from $262.00 to $308.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Goldman Sachs Group presently has an average rating of Hold and an average price target of $254.67.

Goldman Sachs Group (GS) traded up $5.15 during trading hours on Thursday, reaching $256.12. The company’s stock had a trading volume of 4,638,173 shares, compared to its average volume of 2,920,000. Goldman Sachs Group has a twelve month low of $209.62 and a twelve month high of $262.14. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.82. The company has a market capitalization of $96,610.00, a price-to-earnings ratio of 29.54, a PEG ratio of 0.91 and a beta of 1.47.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 17th. The investment management company reported $5.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.90 by $0.78. Goldman Sachs Group had a return on equity of 11.47% and a net margin of 13.36%. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the previous year, the company posted $5.08 earnings per share. Goldman Sachs Group’s revenue for the quarter was down 4.2% on a year-over-year basis. equities analysts anticipate that Goldman Sachs Group will post 21.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be given a $0.75 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.17%. Goldman Sachs Group’s dividend payout ratio is currently 34.60%.

In related news, Chairman Lloyd C. Blankfein sold 20,794 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.38, for a total value of $4,956,873.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David M. Solomon sold 12,707 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $237.94, for a total value of $3,023,503.58. The disclosure for this sale can be found here. Insiders sold 97,833 shares of company stock worth $23,309,552 over the last quarter. 2.57% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its position in Goldman Sachs Group by 9.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 91,950 shares of the investment management company’s stock valued at $21,810,000 after purchasing an additional 7,736 shares during the period. Commonwealth Bank of Australia raised its position in Goldman Sachs Group by 5.9% during the third quarter. Commonwealth Bank of Australia now owns 79,023 shares of the investment management company’s stock valued at $18,738,000 after purchasing an additional 4,390 shares during the period. Quantbot Technologies LP raised its position in Goldman Sachs Group by 223.8% during the second quarter. Quantbot Technologies LP now owns 39,237 shares of the investment management company’s stock valued at $8,706,000 after purchasing an additional 27,121 shares during the period. Tudor Investment Corp ET AL raised its position in Goldman Sachs Group by 29.9% during the second quarter. Tudor Investment Corp ET AL now owns 20,480 shares of the investment management company’s stock valued at $4,545,000 after purchasing an additional 4,714 shares during the period. Finally, YorkBridge Wealth Partners LLC raised its position in Goldman Sachs Group by 23.8% during the second quarter. YorkBridge Wealth Partners LLC now owns 792 shares of the investment management company’s stock valued at $180,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 73.28% of the company’s stock.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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