The Goldman Sachs Group (NYSE:GS) Trading Up 0.2% on Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS) shot up 0.2% on Thursday after HSBC raised their price target on the stock from $432.00 to $460.00. HSBC currently has a buy rating on the stock. The Goldman Sachs Group traded as high as $419.20 and last traded at $416.13. 585,811 shares changed hands during trading, a decline of 75% from the average session volume of 2,310,853 shares. The stock had previously closed at $415.25.

Several other research firms also recently issued reports on GS. JPMorgan Chase & Co. lifted their price target on 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. UBS Group lifted their price target on 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. Morgan Stanley raised The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $333.00 to $449.00 in a research note on Tuesday, January 30th. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Finally, BMO Capital Markets lifted their price target on The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $411.10.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the transaction, the insider now directly owns 10,121 shares of the company’s stock, valued at approximately $3,809,443.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares of the company’s stock, valued at $3,809,443.19. The disclosure for this sale can be found here. Insiders have sold a total of 38,907 shares of company stock valued at $15,080,021 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. First Foundation Advisors grew its stake in The Goldman Sachs Group by 18.4% during the 2nd quarter. First Foundation Advisors now owns 1,771 shares of the investment management company’s stock worth $571,000 after buying an additional 275 shares during the last quarter. TBH Global Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 2.0% in the third quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock worth $1,190,000 after purchasing an additional 72 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in shares of The Goldman Sachs Group by 27,076.5% in 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 purchasing an additional 650,918 shares in the last quarter. Syon Capital LLC bought a new position in shares of The Goldman Sachs Group in the third quarter worth $1,395,000. Finally, Fort Point Capital Partners LLC grew its stake in shares of The Goldman Sachs Group by 11.1% in the second quarter. Fort Point Capital Partners LLC now owns 728 shares of the investment management company’s stock worth $235,000 after purchasing an additional 73 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

The company has a market cap of $135.55 billion, a P/E ratio of 18.30, a PEG ratio of 1.56 and a beta of 1.42. The company has a 50 day moving average price of $388.58 and a 200-day moving average price of $357.54. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.29.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, January 16th. The investment management company reported $5.48 earnings per share for the quarter, beating the consensus estimate of $3.62 by $1.86. The business had revenue of $11.32 billion during the quarter, compared to analyst estimates of $10.80 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.32 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 33.13 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a $2.75 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $11.00 annualized dividend and a dividend yield of 2.63%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 48.20%.

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.