The Goldman Sachs Group (NYSE:GS) Price Target Raised to $470.00

The Goldman Sachs Group (NYSE:GS) had its price target upped by HSBC from $460.00 to $470.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the investment management company’s stock.

Several other analysts have also recently issued reports on GS. Citigroup increased their price objective on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a neutral rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an outperform rating in a report on Friday, April 5th. Evercore ISI raised their price target on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an outperform rating in a report on Tuesday. Edward Jones assumed coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a buy rating for the company. Finally, Argus upgraded shares of The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price objective for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $434.93.

The Goldman Sachs Group Stock Up 0.2 %

NYSE:GS opened at $404.00 on Tuesday. The stock has a market capitalization of $131.11 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.43. 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 Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20. The stock’s fifty day moving average is $396.43 and its two-hundred day moving average is $366.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $8.79 earnings per share. Research analysts anticipate that The Goldman Sachs Group will post 35.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be paid a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.72%. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s 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 completion of the sale, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. In the last three months, insiders sold 35,907 shares of company stock valued at $13,950,851. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently made changes to their positions in GS. Migdal Insurance & Financial Holdings Ltd. increased its holdings in The Goldman Sachs Group by 13.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock valued at $64,291,000 after purchasing an additional 20,018 shares in the last quarter. Wealth Alliance increased its holdings in The Goldman Sachs Group by 17.3% in the 4th quarter. Wealth Alliance now owns 1,035 shares of the investment management company’s stock valued at $399,000 after purchasing an additional 153 shares in the last quarter. Trueblood Wealth Management LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $989,000. TBH Global Asset Management LLC increased its holdings in 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 in the last quarter. Finally, Congress Wealth Management LLC DE increased its holdings in The Goldman Sachs Group by 27,076.5% in the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after purchasing an additional 650,918 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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.