The Goldman Sachs Group (NYSE:GS) Price Target Raised to $1,300.00

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by Bank of America from $1,150.00 to $1,300.00 in a research note released on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the investment management company’s stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group lifted their price objective on The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a report on Wednesday. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Finally, HSBC increased their target price on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1,061.43.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,066.28 on Thursday. The Goldman Sachs Group has a 12 month low of $691.88 and a 12 month high of $1,153.99. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The firm has a market capitalization of $314.56 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.20 and a beta of 1.30. The company’s fifty day moving average price is $1,035.20 and its two-hundred day moving average price is $945.44.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $10.91 EPS. On average, research analysts anticipate that The Goldman Sachs Group will post 66.83 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is 30.87%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, the chief financial officer owned 31,070 shares in the company, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,566 shares of company stock valued at $30,712,978. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently made changes to their positions in GS. Acropolis Investment Management LLC grew its stake in The Goldman Sachs Group by 1.8% in the 4th quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock valued at $554,000 after buying an additional 11 shares during the last quarter. Walkner Condon Financial Advisors LLC lifted its position in The Goldman Sachs Group by 2.0% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock worth $505,000 after acquiring an additional 11 shares during the last quarter. Optas LLC lifted its position in The Goldman Sachs Group by 0.4% during the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock worth $2,244,000 after acquiring an additional 11 shares during the last quarter. Pines Wealth Management LLC boosted its holdings in The Goldman Sachs Group by 0.4% during the fourth quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after acquiring an additional 11 shares during the period. Finally, Welch & Forbes LLC boosted its holdings in The Goldman Sachs Group by 0.8% during the fourth quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after acquiring an additional 11 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

More The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.