The Goldman Sachs Group (NYSE:GS) Price Target Raised to $517.00

The Goldman Sachs Group (NYSE:GS) had its target price upped by Oppenheimer from $479.00 to $517.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the investment management company’s stock.

GS has been the subject of a number of other reports. Bank of America raised their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. BMO Capital Markets raised their target price on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a market perform rating in a research note on Tuesday, April 16th. Evercore ISI raised their target price on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. UBS Group raised their price objective on The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. Finally, Edward Jones initiated coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They set a buy rating for the company. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of Moderate Buy and an average price target of $437.04.

The Goldman Sachs Group Stock Up 1.3 %

NYSE GS opened at $438.30 on Tuesday. The business has a fifty day moving average price of $403.65 and a 200 day moving average price of $373.37. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $442.30. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The company has a market cap of $142.24 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.34 and a beta of 1.40.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. During the same period in the prior year, the company earned $8.79 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Research analysts anticipate that The Goldman Sachs Group will post 36.07 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is presently 42.95%.

Insider Activity

In other news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the sale, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,330 shares of company stock worth $11,713,578. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently made changes to their positions in GS. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group during the first quarter worth approximately $1,903,374,000. Norges Bank acquired a new position in The Goldman Sachs Group during the fourth quarter worth approximately $1,120,119,000. Congress Wealth Management LLC DE increased its position in 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. Wellington Management Group LLP increased its position in The Goldman Sachs Group by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after buying an additional 464,954 shares during the period. Finally, Morgan Stanley increased its position in The Goldman Sachs Group by 7.8% during the third quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after buying an additional 412,383 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.