Evercore ISI Increases The Goldman Sachs Group (NYSE:GS) Price Target to $440.00

The Goldman Sachs Group (NYSE:GS) had its price target hoisted by Evercore ISI from $435.00 to $440.00 in a research note issued to investors on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the investment management company’s stock.

Other analysts also recently issued research reports about the company. Royal Bank of Canada raised their price target on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a sector perform rating in a report on Tuesday. Daiwa Capital Markets raised The Goldman Sachs Group from a neutral rating to an outperform rating and raised their price target for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. JMP Securities raised their price target on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a market outperform rating in a report on Tuesday, April 9th. HSBC raised their price target on The Goldman Sachs Group from $432.00 to $460.00 and gave the stock a buy rating in a report on Thursday, March 28th. Finally, Argus raised The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price target on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of Moderate Buy and a consensus target price of $434.93.

The Goldman Sachs Group Trading Up 0.2 %

NYSE:GS opened at $404.00 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average is $396.43 and its two-hundred day moving average is $366.20. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20. The company has a market cap of $131.11 billion, a PE ratio of 15.78, a P/E/G ratio of 1.31 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter last year, the business posted $8.79 EPS. The Goldman Sachs Group’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts predict that The Goldman Sachs Group will post 35.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

Insider Activity

In other news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the transaction, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the transaction, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,907 shares of company stock worth $13,950,851. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Large investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of The Goldman Sachs Group by 13.7% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock valued at $64,291,000 after buying an additional 20,018 shares in the last quarter. Wealth Alliance boosted its position in The Goldman Sachs Group by 17.3% during the 4th quarter. Wealth Alliance now owns 1,035 shares of the investment management company’s stock worth $399,000 after acquiring an additional 153 shares during the period. Trueblood Wealth Management LLC purchased a new position in The Goldman Sachs Group during the 4th quarter valued at about $989,000. TBH Global Asset Management LLC increased its holdings in shares of The Goldman Sachs Group by 2.0% in the 3rd quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock valued at $1,190,000 after purchasing an additional 72 shares during the period. Finally, Congress Wealth Management LLC DE lifted its position in shares of The Goldman Sachs Group by 27,076.5% in the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after purchasing an additional 650,918 shares in the last quarter. 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.