The Goldman Sachs Group (NYSE:GS) Price Target Raised to $479.00

The Goldman Sachs Group (NYSE:GS) had its price target increased by Oppenheimer from $446.00 to $479.00 in a research report sent to investors on Tuesday, Benzinga reports. Oppenheimer currently has an outperform rating on the investment management company’s stock.

Several other equities research analysts also recently commented on GS. UBS Group lifted their price objective on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $421.00 to $424.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. JMP Securities lifted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a market outperform rating in a research note on Tuesday, April 9th. Finally, Morgan Stanley upgraded shares of The Goldman Sachs Group from an equal weight rating to an overweight rating and lifted their price objective for the stock from $333.00 to $449.00 in a research note on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $434.93.

The Goldman Sachs Group Price Performance

Shares of GS opened at $403.11 on Tuesday. The company has a market cap of $130.82 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $419.20. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The company has a 50 day moving average of $396.03 and a two-hundred day moving average of $365.61.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The Goldman Sachs Group’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $8.79 earnings per share. As a group, analysts predict that The Goldman Sachs Group will post 32.76 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be given a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.73%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 42.95%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction 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 approximately $4,357,659.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,907 shares of company stock worth $13,950,851. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of The Goldman Sachs Group by 13.7% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock worth $64,291,000 after purchasing an additional 20,018 shares in the last quarter. Trueblood Wealth Management LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at about $989,000. TBH Global Asset Management LLC grew its stake in The Goldman Sachs Group by 2.0% during the 3rd quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock valued at $1,190,000 after acquiring an additional 72 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after acquiring an additional 650,918 shares in the last quarter. Finally, Syon Capital LLC purchased a new stake in The Goldman Sachs Group during the 3rd quarter valued at about $1,395,000. Hedge funds and other 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.