The Goldman Sachs Group (NYSE:GS) Stock Price Up 0.7%

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price rose 0.7% during mid-day trading on Friday . The company traded as high as $408.00 and last traded at $405.87. Approximately 650,372 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 2,345,753 shares. The stock had previously closed at $403.11.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of recent analyst reports. Edward Jones initiated coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Evercore ISI boosted their price objective on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays upped their price target on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. HSBC upped their price target on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada upped their price target on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Trading Up 0.2 %

The stock has a market capitalization of $131.15 billion, a PE ratio of 15.85, a P/E/G ratio of 1.31 and a beta of 1.43. 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 firm has a 50 day moving average price of $396.03 and a 200 day moving average price of $365.61.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) 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 analyst estimates of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The Goldman Sachs Group’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $8.79 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 35.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Insider Activity

In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction that occurred on 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 directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock valued at $13,950,851 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently bought and sold shares of GS. First United Bank & Trust bought a new position in The Goldman Sachs Group during the fourth quarter valued at $26,000. Versant Capital Management Inc grew its holdings in The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares during the period. Cambridge Trust Co. lifted its position in shares of The Goldman Sachs Group by 82.0% during the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after acquiring an additional 41 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $29,000. Finally, Truvestments Capital LLC lifted its position in shares of The Goldman Sachs Group by 88.0% during the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after acquiring an additional 44 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

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.