The Goldman Sachs Group (NYSE:GS) Price Target Raised to $360.00

The Goldman Sachs Group (NYSE:GS) had its target price lifted by BMO Capital Markets from $349.00 to $360.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a market perform rating on the investment management company’s stock.

Several other analysts have also issued reports on the stock. Citigroup increased their price target on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a neutral rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an overweight rating in a research report on Tuesday. Bank of America increased their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a buy rating in a research report on Tuesday. Argus upgraded shares of The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price target on the stock in a research report on Tuesday. Finally, Oppenheimer increased their price target on shares of The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an outperform rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $434.93.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $403.11 on Tuesday. The company’s 50 day moving average price is $396.03 and its two-hundred day moving average price is $365.61. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $419.20. The firm has a market cap of $130.82 billion, a PE ratio of 15.74, a PEG ratio of 1.54 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 (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same quarter in the prior year, the business posted $8.79 EPS. The business’s revenue was up 16.1% compared to the same quarter last year. Equities research analysts predict that The Goldman Sachs Group will post 32.76 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insider Activity

In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction 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 owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the transaction, the insider now owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction 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. Over the last 90 days, insiders sold 35,907 shares of company stock valued at $13,950,851. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Large investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. increased its position 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 worth $64,291,000 after buying an additional 20,018 shares during the period. Trueblood Wealth Management LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $989,000. TBH Global Asset Management LLC increased its position in shares of The Goldman Sachs Group by 2.0% during 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 period. Congress Wealth Management LLC DE increased its position 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. Finally, Syon Capital LLC acquired a new stake in shares of The Goldman Sachs Group during the third quarter worth $1,395,000. 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.