The Goldman Sachs Group (NYSE:GS) Shares Up 0.7% After Analyst Upgrade

The Goldman Sachs Group, Inc. (NYSE:GS) shares were up 0.7% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $450.00 to $504.00. Wells Fargo & Company currently has an overweight rating on the stock. The Goldman Sachs Group traded as high as $447.42 and last traded at $446.92. Approximately 476,182 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,348,587 shares. The stock had previously closed at $443.67.

GS has been the topic of several other research reports. Oppenheimer lifted their price target on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Edward Jones began coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Citigroup lifted their price target on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. HSBC increased their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Bank of America increased their price target on shares of 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. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $440.57.

Insider Activity at The Goldman Sachs Group

In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction on 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 transaction, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Denis P. Coleman sold 12,680 shares of the firm’s 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 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 legal filing with the SEC, which is available at the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction 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 completion of the sale, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,330 shares of company stock valued at $11,713,578. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Williams Jones Wealth Management LLC. lifted its holdings in shares of The Goldman Sachs Group by 17.5% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 8,596 shares of the investment management company’s stock worth $3,590,000 after acquiring an additional 1,279 shares during the last quarter. Semus Wealth Partners LLC lifted its stake in The Goldman Sachs Group by 1.4% in the first quarter. Semus Wealth Partners LLC now owns 2,167 shares of the investment management company’s stock worth $905,000 after purchasing an additional 30 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in shares of The Goldman Sachs Group by 1.6% during the first quarter. Meeder Advisory Services Inc. now owns 5,632 shares of the investment management company’s stock valued at $2,352,000 after buying an additional 87 shares during the period. Meeder Asset Management Inc. grew its stake in shares of The Goldman Sachs Group by 9.7% during the first quarter. Meeder Asset Management Inc. now owns 880 shares of the investment management company’s stock valued at $368,000 after buying an additional 78 shares during the last quarter. Finally, NorthRock Partners LLC lifted its stake in shares of The Goldman Sachs Group by 10.1% during the 1st quarter. NorthRock Partners LLC now owns 1,230 shares of the investment management company’s stock worth $514,000 after acquiring an additional 113 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 0.0 %

The stock has a fifty day moving average of $406.72 and a 200-day moving average of $377.23. The company has a market cap of $144.01 billion, a PE ratio of 17.33, a PEG ratio of 1.38 and a beta of 1.40. 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 Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 8.17% and a return on equity of 8.65%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $8.79 EPS. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 36.07 EPS for the current fiscal 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 given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

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.