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

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

Several other analysts have also recently commented on the company. Edward Jones started coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a buy rating on the stock. UBS Group increased their price objective on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the company a buy rating in a report on Tuesday, January 9th. Barclays upped their target price 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. Daiwa Capital Markets raised The Goldman Sachs Group from a neutral rating to an outperform rating and boosted their price objective for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Finally, JMP Securities lifted their target price 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. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $437.04.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded up $5.73 during mid-day trading on Tuesday, hitting $438.30. The company had a trading volume of 2,406,298 shares, compared to its average volume of 2,376,184. The stock has a market cap of $142.24 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.34 and a beta of 1.40. The firm’s 50 day simple moving average is $403.65 and its two-hundred day simple moving average is $373.37. 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 Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $442.30.

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 the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.79 earnings per share. As a group, equities research analysts forecast that The Goldman Sachs Group will post 36.07 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 42.95%.

Insider Transactions at The Goldman Sachs Group

In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the business’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 sale, the treasurer now directly owns 18,408 shares in the company, valued at $7,190,901.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the sale, the treasurer now owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Insiders sold a total of 29,330 shares of company stock worth $11,713,578 over the last three months. 0.54% of the stock is currently owned by insiders.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of GS. First Personal Financial Services bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $25,000. First United Bank & Trust acquired a new position in The Goldman Sachs Group in the fourth quarter valued at about $26,000. Versant Capital Management Inc grew its position in shares of The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the period. Cambridge Trust Co. increased its stake in shares of The Goldman Sachs Group by 82.0% in the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 41 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $29,000. 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.