The Goldman Sachs Group (NYSE:GS) Price Target Increased to $337.00 by Analysts at Morgan Stanley

Posted by Defense World Staff on Apr 20th, 2023

The Goldman Sachs Group (NYSE:GS – Get Rating) had its price target hoisted by Morgan Stanley from $329.00 to $337.00 in a research note issued to investors on Wednesday, The Fly reports. Morgan Stanley currently has an equal weight rating on the investment management company’s stock.

Other analysts also recently issued research reports about the company. BMO Capital Markets cut their price target on The Goldman Sachs Group from $485.00 to $443.00 and set an outperform rating on the stock in a report on Wednesday, January 18th. Deutsche Bank Aktiengesellschaft cut their price target on The Goldman Sachs Group from $370.00 to $345.00 in a report on Friday, January 6th. Wolfe Research cut The Goldman Sachs Group from an outperform rating to a peer perform rating in a research report on Wednesday, January 4th. StockNews.com began coverage on The Goldman Sachs Group in a research report on Thursday, March 16th. They issued a hold rating on the stock. Finally, JMP Securities raised their target price on The Goldman Sachs Group from $460.00 to $470.00 and gave the company an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $390.79.

The Goldman Sachs Group Trading Up 0.9 %

Shares of NYSE GS opened at $336.89 on Wednesday. The company has a market cap of $112.45 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41. The Goldman Sachs Group has a 12-month low of $277.84 and a 12-month high of $389.58. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.32. The stock’s 50 day simple moving average is $338.55 and its 200 day simple moving average is $346.93.

The Goldman Sachs Group (NYSE:GS – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The investment management company reported $8.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.14 by $0.65. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $12.66 billion. The Goldman Sachs Group had a return on equity of 10.55% and a net margin of 16.39%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $10.76 EPS. Equities research analysts expect that The Goldman Sachs Group will post 31.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 1st will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, May 31st. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 33.27%.

Insider Buying and Selling

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $6.43, for a total value of $25,720,000.00. Following the transaction, the insider now directly owns 17,099,784 shares in the company, valued at approximately $109,951,611.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,105,275 shares of company stock worth $26,412,477 in the last three months. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently modified their holdings of the stock. Field & Main Bank grew its holdings in shares of The Goldman Sachs Group by 1.6% in the 1st quarter. Field & Main Bank now owns 4,524 shares of the investment management company’s stock worth $1,480,000 after acquiring an additional 72 shares during the last quarter. TKG Advisors LLC boosted its position in shares of The Goldman Sachs Group by 3.0% in the first quarter. TKG Advisors LLC now owns 2,342 shares of the investment management company’s stock worth $766,000 after buying an additional 69 shares during the period. Carmel Capital Partners LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth $110,000. Seelaus Asset Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth $491,000. Finally, Marcum Wealth LLC boosted its position in shares of The Goldman Sachs Group by 7.1% in the first quarter. Marcum Wealth LLC now owns 2,964 shares of the investment management company’s stock worth $969,000 after buying an additional 196 shares during the period. 69.09% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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The Goldman Sachs Group, Inc engages in the provision of financial services. It operates through the following business segments: Global Banking and Markets, Asset and Wealth Management, and Platform Solutions. The Global Banking and Markets segment includes investment banking, equity and debt underwriting, Fixed Income, Currency, and Commodities (FICC) intermediation and financing activities, relationship lending and acquisition financing, and investing activities.

Analyst Recommendations for The Goldman Sachs Group (NYSE:GS)

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