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

The Goldman Sachs Group (NYSE:GS) had its price target boosted by Royal Bank of Canada from $390.00 to $405.00 in a research note released 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 research analysts also recently issued reports on the company. Morgan Stanley upgraded The Goldman Sachs Group from an equal weight rating to an overweight rating and increased their price objective for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Daiwa Capital Markets upgraded The Goldman Sachs Group from a neutral rating to an outperform rating and increased their price objective for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. Argus upgraded The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price objective for the company in a report on Tuesday. JMP Securities increased their price objective 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. Finally, Bank of America increased their price objective on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a buy rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $434.93.

The Goldman Sachs Group Trading Down 0.2 %

NYSE GS opened at $403.11 on Tuesday. The firm has a market cap of $130.82 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.54 and a beta of 1.43. 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 stock’s 50-day moving average is $396.03 and its 200-day moving average is $365.61. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $419.20.

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 analysts’ consensus estimates 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 Goldman Sachs Group’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $8.79 earnings per share. Sell-side analysts anticipate that The Goldman Sachs Group will post 32.76 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.73%. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Transactions at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 23rd. The stock was 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 directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the sale, the insider now directly owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of The Goldman Sachs Group stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The disclosure for this sale can be found here. In the last three months, insiders sold 35,907 shares of company stock worth $13,950,851. 0.54% of the stock is owned by company insiders.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently added to or reduced their stakes in the company. Tower Wealth Partners Inc. lifted its holdings in The Goldman Sachs Group by 3.2% during the 1st quarter. Tower Wealth Partners Inc. now owns 1,133 shares of the investment management company’s stock worth $473,000 after purchasing an additional 35 shares during the last quarter. Saxon Interests Inc. lifted its holdings in The Goldman Sachs Group by 10.9% during the 1st quarter. Saxon Interests Inc. now owns 2,425 shares of the investment management company’s stock worth $1,013,000 after purchasing an additional 239 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $84,000. MV Capital Management Inc. lifted its holdings in The Goldman Sachs Group by 6.1% during the 1st quarter. MV Capital Management Inc. now owns 799 shares of the investment management company’s stock worth $334,000 after purchasing an additional 46 shares during the last quarter. Finally, Woodmont Investment Counsel LLC lifted its holdings in The Goldman Sachs Group by 108.7% during the 1st quarter. Woodmont Investment Counsel LLC now owns 1,344 shares of the investment management company’s stock worth $561,000 after purchasing an additional 700 shares during the last quarter. 71.21% of the stock is 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.