BMO Capital Markets Increases Goldman Sachs Group (NYSE:GS) Price Target to $273.00

Goldman Sachs Group (NYSE:GS) had its price objective upped by BMO Capital Markets to $273.00 in a research note issued to investors on Wednesday morning, The Fly reports. The brokerage currently has a market perform rating on the investment management company’s stock.

GS has been the subject of several other research reports. JPMorgan Chase & Co. restated a neutral rating on shares of SUZUKI MTR CORP/ADR in a research report on Wednesday. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a hold rating in a research report on Friday, June 28th. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. HSBC reiterated a hold rating on shares of Societe Generale in a research report on Thursday, April 4th. Finally, Zacks Investment Research upgraded shares of FirstService from a strong sell rating to a hold rating and set a $110.00 target price for the company in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Goldman Sachs Group has a consensus rating of Hold and a consensus price target of $239.18.

Shares of NYSE:GS opened at $213.52 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 2.43. The stock has a market cap of $78.48 billion, a P/E ratio of 8.45, a PEG ratio of 0.78 and a beta of 1.30. Goldman Sachs Group has a 52 week low of $151.70 and a 52 week high of $245.08. The company has a 50 day moving average price of $199.34.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 16th. The investment management company reported $5.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.73 by $1.08. The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $8.88 billion. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 11.99%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.98 EPS. As a group, sell-side analysts predict that Goldman Sachs Group will post 22.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.25 per share. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $5.00 annualized dividend and a dividend yield of 2.34%. Goldman Sachs Group’s dividend payout ratio is 13.45%.

In other news, EVP Dane E. Holmes sold 3,165 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $212.15, for a total transaction of $671,454.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Financial Planning LLC acquired a new position in Goldman Sachs Group in the 4th quarter valued at $26,000. Toth Financial Advisory Corp grew its stake in Goldman Sachs Group by 100.0% in the 1st quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock valued at $27,000 after buying an additional 70 shares during the last quarter. Alera Investment Advisors LLC grew its stake in Goldman Sachs Group by 71.8% in the 1st quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock valued at $28,000 after buying an additional 61 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in Goldman Sachs Group in the 4th quarter valued at $29,000. Finally, CNB Bank grew its stake in Goldman Sachs Group by 108.4% in the 1st quarter. CNB Bank now owns 173 shares of the investment management company’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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