The Goldman Sachs Group (NYSE:GS) Price Target Lowered to $650.00 at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its target price trimmed by Wells Fargo & Company from $680.00 to $650.00 in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm currently has an overweight rating on the investment management company’s stock.

Other equities analysts also recently issued research reports about the stock. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Evercore ISI dropped their price target on The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Daiwa America downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, UBS Group boosted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $593.40.

The Goldman Sachs Group Trading Up 2.2 %

Shares of GS opened at $509.83 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group has a 52-week low of $402.41 and a 52-week high of $672.19. The firm has a market cap of $159.09 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.89 and a beta of 1.33. The business’s fifty day moving average is $564.71 and its 200-day moving average is $572.11.

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

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Treasurer Carey Halio sold 3,640 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $636.74, for a total transaction of $2,317,733.60. Following the transaction, the treasurer now owns 4,552 shares in the company, valued at $2,898,440.48. The trade was a 44.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 3,545 shares of the company’s stock, valued at $2,255,506.25. The trade was a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,925 shares of company stock valued at $12,630,683. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stephens Consulting LLC acquired a new position in The Goldman Sachs Group during the 4th quarter worth approximately $26,000. Asset Planning Inc bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $29,000. Curio Wealth LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $30,000. Godsey & Gibb Inc. lifted its holdings in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $31,000. Institutional investors 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.