The Goldman Sachs Group (NYSE:GS) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of The Goldman Sachs Group (NYSE:GS – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the investment management company’s stock.

A number of other equities research analysts also recently weighed in on GS. Credit Suisse Group set a $410.00 price objective on The Goldman Sachs Group in a research report on Wednesday, January 25th. Deutsche Bank Aktiengesellschaft lowered their price target on The Goldman Sachs Group from $370.00 to $345.00 in a report on Friday, January 6th. Wolfe Research downgraded The Goldman Sachs Group from an outperform rating to a peer perform rating in a report on Wednesday, January 4th. UBS Group raised their price target on The Goldman Sachs Group from $325.00 to $350.00 and gave the stock a neutral rating in a report on Monday, January 9th. Finally, JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $385.00 to $405.00 and gave the stock an overweight rating in a report on Tuesday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $399.24.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $303.54 on Thursday. The Goldman Sachs Group has a 1-year low of $277.84 and a 1-year high of $389.58. The stock’s 50-day moving average is $355.30 and its 200 day moving average is $346.44. The company has a market cap of $101.81 billion, a P/E ratio of 10.10, a PEG ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.90 and a quick ratio of 0.90.

The Goldman Sachs Group (NYSE:GS – Get Rating) last issued its quarterly earnings data on Tuesday, January 17th. The investment management company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.25 by ($1.93). The Goldman Sachs Group had a net margin of 16.39% and a return on equity of 10.55%. The company had revenue of $10.59 billion for the quarter, compared to the consensus estimate of $10.91 billion. During the same period in the previous year, the business earned $10.81 EPS. The Goldman Sachs Group’s revenue for the quarter was down 16.2% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group will post 33.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 2nd will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 3.29%. The ex-dividend date is Wednesday, March 1st. The Goldman Sachs Group’s dividend payout ratio is currently 33.27%.

Insider Activity at The Goldman Sachs Group

In related news, major shareholder Goldman Sachs Group Inc sold 3,749 shares of The Goldman Sachs Group stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $10.58, for a total transaction of $39,664.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently made changes to their positions in GS. Fairfield Bush & CO. purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at approximately $66,000. Candriam Luxembourg S.C.A. boosted its stake in shares of The Goldman Sachs Group by 1,505.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after acquiring an additional 38,727 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of The Goldman Sachs Group by 18.5% in the first quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after acquiring an additional 18,540 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in shares of The Goldman Sachs Group by 79.4% in the first quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock worth $273,000 after acquiring an additional 366 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of The Goldman Sachs Group by 118.3% in the first quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock worth $102,000 after acquiring an additional 168 shares during the last quarter. 69.09% of the stock is currently owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

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The Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, helping companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.