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

The Goldman Sachs Group (NYSE:GS) had its price target raised by HSBC from $460.00 to $470.00 in a research report released on Tuesday, 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. BMO Capital Markets boosted their price objective on The Goldman Sachs Group from $349.00 to $360.00 and gave the company a market perform rating in a research report on Tuesday. Royal Bank of Canada boosted their target price on The Goldman Sachs Group from $390.00 to $405.00 and gave the company a sector perform rating in a research note on Tuesday. Evercore ISI boosted their target price on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an outperform rating in a research note on Tuesday. UBS Group boosted their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a buy rating in a research note on Tuesday, January 9th. Finally, Oppenheimer boosted their target price on The Goldman Sachs Group from $446.00 to $479.00 and gave the company an outperform rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $434.93.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $404.00 on Tuesday. The business has a 50 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 price-to-earnings ratio of 15.78, a PEG ratio of 1.31 and a beta of 1.43. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $419.20. 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 (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The Goldman Sachs Group’s quarterly 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 EPS. On average, sell-side analysts predict that The Goldman Sachs Group will post 35.15 earnings per share for the current fiscal 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 issued a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is 42.95%.

Insider Transactions at The Goldman Sachs Group

In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s 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 of the company’s stock, valued at $7,190,901.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the 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 sale, the treasurer now owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Insiders have sold 35,907 shares of company stock valued at $13,950,851 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of The Goldman Sachs Group

Several institutional investors have recently made changes to their positions in GS. First United Bank & Trust purchased a new position in The Goldman Sachs Group during the 4th quarter valued at approximately $26,000. Versant Capital Management Inc grew its holdings in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares in the last quarter. Cambridge Trust Co. grew its holdings in The Goldman Sachs Group by 82.0% during the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after buying an additional 41 shares in the last quarter. Pineridge Advisors LLC purchased a new position in The Goldman Sachs Group during the 4th quarter valued at approximately $29,000. Finally, Truvestments Capital LLC lifted its stake in shares of The Goldman Sachs Group by 88.0% in the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.