JPMorgan Chase & Co. Reiterates “Buy” Rating for Goldman Sachs Group (NYSE:GS)

JPMorgan Chase & Co. reissued their buy rating on shares of Goldman Sachs Group (NYSE:GS) in a report published on Wednesday, AnalystRatings.com reports. JPMorgan Chase & Co. currently has a $240.00 price target on the investment management company’s stock.

Other equities analysts have also recently issued research reports about the stock. 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. HSBC reaffirmed a hold rating on shares of Societe Generale in a research report on Thursday, April 4th. Royal Bank of Canada lifted their price objective on shares of Johnson Service Group from GBX 180 ($2.35) to GBX 190 ($2.48) and gave the stock an outperform rating in a research report on Tuesday, July 16th. TheStreet raised shares of White Mountains Insurance Group from a c rating to a b rating in a research report on Monday, May 13th. Finally, Oppenheimer set a $15.00 price objective on shares of Strongbridge Biopharma and gave the stock a buy rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Goldman Sachs Group has a consensus rating of Hold and an average target price of $239.18.

Shares of GS stock opened at $213.52 on Wednesday. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.85 and a quick ratio of 0.86. Goldman Sachs Group has a 52 week low of $151.70 and a 52 week high of $245.08. The stock has a market cap of $78.11 billion, a PE ratio of 8.96, a PEG ratio of 0.78 and a beta of 1.30. The firm has a 50 day simple moving average 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. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 11.99%. The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter last year, the company posted $5.98 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Goldman Sachs Group will post 22.54 earnings per share for the current fiscal year.

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

In other news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IMA Wealth Inc. lifted its position in Goldman Sachs Group by 2.9% in the second quarter. IMA Wealth Inc. now owns 13,228 shares of the investment management company’s stock valued at $2,706,000 after acquiring an additional 376 shares during the last quarter. Buckley Wealth Management LLC purchased a new stake in Goldman Sachs Group in the second quarter valued at $205,000. Bessemer Group Inc. lifted its position in Goldman Sachs Group by 1,398.7% in the second quarter. Bessemer Group Inc. now owns 58,629 shares of the investment management company’s stock valued at $11,995,000 after acquiring an additional 54,717 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Goldman Sachs Group by 8.3% in the second quarter. Commonwealth Equity Services LLC now owns 56,667 shares of the investment management company’s stock valued at $11,594,000 after acquiring an additional 4,320 shares during the last quarter. Finally, Northstar Capital Management LLC lifted its position in Goldman Sachs Group by 1.3% in the second quarter. Northstar Capital Management LLC now owns 9,768 shares of the investment management company’s stock valued at $1,999,000 after acquiring an additional 124 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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