Royal Bank of Canada Increases The Goldman Sachs Group (NYSE:GS) Price Target to $405.00

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by Royal Bank of Canada from $390.00 to $405.00 in a research report report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the investment management company’s stock.

A number of other brokerages have also recently weighed in on GS. Barclays boosted their price objective on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an overweight rating in a research report on Tuesday, January 2nd. JMP Securities upped their price target on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a market outperform rating in a report on Tuesday, April 9th. Argus upgraded shares of The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price objective on the stock in a research note on Tuesday. Bank of America upped their target price on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a buy rating in a research note on Tuesday. Finally, Edward Jones began coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a buy rating on the stock. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of Moderate Buy and an average target price of $434.93.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $404.00 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $419.20. The business has a fifty day simple moving average of $396.43 and a 200 day simple moving average of $366.20. The firm has a market cap of $131.11 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.29 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 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The Goldman Sachs Group’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $8.79 EPS. As a group, sell-side analysts predict that The Goldman Sachs Group will post 35.41 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

Insider Activity at The Goldman Sachs Group

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

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of 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 acquiring an additional 20,018 shares during the last quarter. Wealth Alliance increased its holdings in The Goldman Sachs Group by 17.3% in the fourth 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 during the last quarter. Trueblood Wealth Management LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at about $989,000. TBH Global Asset Management LLC boosted its holdings in 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 last quarter. Finally, Congress Wealth Management LLC DE grew its position in shares of The Goldman Sachs Group by 27,076.5% during the 3rd 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.