The Goldman Sachs Group (NYSE:GS) Shares Down 0.7%

Shares of The Goldman Sachs Group, Inc. (NYSE:GS) dropped 0.7% during mid-day trading on Tuesday . The stock traded as low as $396.86 and last traded at $398.07. Approximately 1,021,996 shares traded hands during trading, a decline of 56% from the average daily volume of 2,302,569 shares. The stock had previously closed at $400.88.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GS shares. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup boosted their target price on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Tuesday. BMO Capital Markets boosted their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday. Bank of America boosted their target price 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. Finally, UBS Group boosted their target price 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. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Stock Performance

The stock has a market cap of $131.08 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.54 and a beta of 1.43. The stock’s fifty day moving average is $395.67 and its 200-day moving average is $365.35. 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 Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.79 earnings per share. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 32.76 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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 owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now 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 90 days, insiders sold 35,907 shares of company stock worth $13,950,851. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors lifted its position in shares of The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after purchasing an additional 338,181 shares in the last quarter. Morgan Stanley lifted its position in shares of The Goldman Sachs Group by 40.0% in the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after purchasing an additional 1,696,350 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock worth $2,128,693,000 after purchasing an additional 152,474 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The Goldman Sachs Group by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock worth $2,004,153,000 after purchasing an additional 27,524 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of The Goldman Sachs Group by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after purchasing an additional 274,989 shares in the last quarter. 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.