The Goldman Sachs Group (NYSE:GS) Given New $843.00 Price Target at Royal Bank Of Canada

The Goldman Sachs Group (NYSE:GS) had its price objective upped by Royal Bank Of Canada from $750.00 to $843.00 in a research note released on Wednesday,MarketScreener reports. The brokerage currently has a sector perform rating on the investment management company’s stock.

GS has been the topic of several other reports. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Morgan Stanley upped their target price on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a research note on Monday. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $713.88.

The Goldman Sachs Group Trading Up 1.4%

Shares of NYSE GS opened at $790.32 on Wednesday. The company’s 50 day simple moving average is $755.05 and its 200 day simple moving average is $655.05. The Goldman Sachs Group has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm has a market capitalization of $239.25 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.62 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s payout ratio is currently 35.26%.

Insider Activity at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares of the company’s stock, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Winthrop Advisory Group LLC boosted its holdings in The Goldman Sachs Group by 3.4% during the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock worth $303,000 after purchasing an additional 14 shares during the last quarter. Avion Wealth boosted its holdings in The Goldman Sachs Group by 31.1% during the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after purchasing an additional 14 shares during the last quarter. KPP Advisory Services LLC boosted its holdings in The Goldman Sachs Group by 2.1% during the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock worth $473,000 after purchasing an additional 14 shares during the last quarter. FAS Wealth Partners Inc. boosted its holdings in The Goldman Sachs Group by 2.2% during the second quarter. FAS Wealth Partners Inc. now owns 653 shares of the investment management company’s stock worth $462,000 after purchasing an additional 14 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its holdings in The Goldman Sachs Group by 0.7% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock worth $1,586,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.