The Goldman Sachs Group (NYSE:GS) Price Target Raised to $478.00 at Bank of America

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by Bank of America from $450.00 to $478.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the investment management company’s stock.

GS has been the subject of several other research reports. Oppenheimer decreased their target price on shares of The Goldman Sachs Group from $506.00 to $446.00 and set an outperform rating for the company in a research note on Tuesday, March 19th. Daiwa Capital Markets raised The Goldman Sachs Group from a neutral rating to an outperform rating and boosted their target price for the company from $410.00 to $430.00 in a report on Thursday, March 14th. HSBC increased 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. Edward Jones initiated coverage on shares of The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a buy rating for the company. Finally, UBS Group boosted their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $434.93.

The Goldman Sachs Group Price Performance

Shares of GS opened at $404.00 on Tuesday. The firm has a fifty day moving average price of $396.43 and a 200 day moving average price of $366.20. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $419.20. The stock has a market cap of $131.11 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.43.

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

The Goldman Sachs Group Announces Dividend

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 given a dividend of $2.75 per share. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.72%. The Goldman Sachs Group’s payout ratio is 42.95%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,907 shares of company stock valued at $13,950,851. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of large investors have recently made changes to their positions in GS. Fairfield Bush & CO. purchased a new position in The Goldman Sachs Group in the 1st quarter valued at about $66,000. Candriam Luxembourg S.C.A. raised its position 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 valued at $13,633,000 after buying an additional 38,727 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of The Goldman Sachs Group by 18.5% during the first quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock valued at $39,153,000 after buying an additional 18,540 shares during the period. Zions Bancorporation N.A. boosted its position in The Goldman Sachs Group by 79.4% during 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 grew its stake in The Goldman Sachs Group by 118.3% in the 1st 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 period. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.