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

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

A number of other research analysts have also weighed in on GS. Barclays raised their price objective on The Goldman Sachs Group from $437.00 to $493.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. JMP Securities raised their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a market outperform rating in a report on Tuesday, April 9th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the company an outperform rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $421.00 to $424.00 and gave the stock an overweight rating in a report on Thursday, March 21st. Finally, Daiwa Capital Markets upgraded The Goldman Sachs Group from a neutral rating to an outperform rating and lifted their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $434.93.

The Goldman Sachs Group Trading Up 0.2 %

Shares of The Goldman Sachs Group stock opened at $404.00 on Tuesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The company has a fifty day moving average of $396.43 and a 200 day moving average of $366.20. The company has a market capitalization of $131.11 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.31 and a beta of 1.43. The Goldman Sachs Group has a fifty-two week low of $289.36 and a fifty-two week high of $419.20.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly 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 company 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 firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.79 EPS. On average, sell-side analysts anticipate that The Goldman Sachs Group will post 35.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the transaction, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of The Goldman Sachs Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the transaction, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the sale, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock valued at $13,950,851 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its position in The Goldman Sachs Group by 13.7% during 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 buying an additional 20,018 shares in the last quarter. Wealth Alliance boosted its stake 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 worth $399,000 after purchasing an additional 153 shares in the last quarter. Trueblood Wealth Management LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $989,000. TBH Global Asset Management LLC raised its holdings in shares of The Goldman Sachs Group by 2.0% in the third quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock worth $1,190,000 after buying an additional 72 shares during the last quarter. Finally, Congress Wealth Management LLC DE lifted its stake in shares of The Goldman Sachs Group by 27,076.5% during 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 buying an additional 650,918 shares during the period. 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.