The Goldman Sachs Group (NYSE:GS) Price Target Lowered to $680.00 at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its price target decreased by Wells Fargo & Company from $720.00 to $680.00 in a report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the investment management company’s stock.

GS has been the topic of several other reports. Morgan Stanley lowered their price objective on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group raised their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Barclays upped their target price on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup decreased their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $590.60.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $543.04 on Friday. The stock has a market cap of $169.45 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group has a 12 month low of $387.12 and a 12 month high of $672.19. The stock’s 50 day moving average price is $608.15 and its 200 day moving average price is $570.93.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The firm had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The Goldman Sachs Group’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.48 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Insider Activity

In other news, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the sale, the insider now directly owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the transaction, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. This represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,925 shares of company stock valued at $12,630,683. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GS. Stephens Consulting LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $26,000. Asset Planning Inc bought a new stake in The Goldman Sachs Group in the 4th quarter valued at $29,000. Curio Wealth LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter worth $30,000. Transce3nd LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $31,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $31,000. 71.21% of the stock is owned by institutional investors.

About The Goldman Sachs Group

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.