The Goldman Sachs Group (NYSE:GS) Given New $560.00 Price Target at Royal Bank of Canada

The Goldman Sachs Group (NYSE:GS) had its target price cut by Royal Bank of Canada from $610.00 to $560.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a sector perform rating on the investment management company’s stock.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Evercore ISI decreased their price target on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Finally, Barclays cut their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a research report on Tuesday. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $585.38.

The Goldman Sachs Group Stock Up 0.8 %

The Goldman Sachs Group stock opened at $507.94 on Tuesday. The business has a 50 day simple moving average of $570.64 and a 200-day simple moving average of $572.51. The Goldman Sachs Group has a 12 month low of $395.18 and a 12 month high of $672.19. The stock has a market capitalization of $158.50 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating analysts’ consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period last year, the company posted $11.58 EPS. On average, analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group’s payout ratio is 29.59%.

Insider Buying and Selling

In related news, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the transaction, the insider now owns 3,545 shares of the company’s stock, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Treasurer Carey Halio sold 3,640 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $636.74, for a total value of $2,317,733.60. Following the completion of the transaction, the treasurer now directly owns 4,552 shares in the company, valued at approximately $2,898,440.48. The trade was a 44.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,925 shares of company stock worth $12,630,683 in the last quarter. 0.55% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares in the last quarter. Norges Bank acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth approximately $944,334,000. Raymond James Financial Inc. purchased a new position in The Goldman Sachs Group during the fourth quarter worth approximately $624,844,000. Finally, Proficio Capital Partners LLC boosted its holdings in shares of The Goldman Sachs Group by 14,007.0% in the 4th quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock valued at $606,815,000 after purchasing an additional 1,052,204 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.