Bank of America Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $478.00

The Goldman Sachs Group (NYSE:GS) had its target price raised by Bank of America from $450.00 to $478.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the investment management company’s stock.

A number of other equities analysts also recently commented on the company. Oppenheimer decreased their target price on The Goldman Sachs Group from $506.00 to $446.00 and set an outperform rating for the company in a research note on Tuesday, March 19th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $445.00 to $485.00 and gave the company an outperform rating in a research note on Friday, April 5th. Edward Jones began coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a buy rating for the company. Argus upgraded The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price objective for the company in a research report on Tuesday. Finally, UBS Group boosted their price objective on The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $434.93.

The Goldman Sachs Group Stock Down 0.2 %

Shares of The Goldman Sachs Group stock opened at $403.11 on Tuesday. 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 business has a 50-day moving average price of $396.03 and a 200 day moving average price of $365.61. The Goldman Sachs Group has a fifty-two week low of $289.36 and a fifty-two week high of $419.20. The firm has a market cap of $130.82 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.54 and a beta of 1.43.

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

The Goldman Sachs Group Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.73%. The Goldman Sachs Group’s payout ratio is 42.95%.

Insider Buying and Selling

In related 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 transaction of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The disclosure for this sale can be found here. Insiders have sold a total of 35,907 shares of company stock valued at $13,950,851 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GS. First United Bank & Trust acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $26,000. Versant Capital Management Inc raised its stake in The Goldman Sachs Group by 106.3% during the 1st 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. raised its stake in The Goldman Sachs Group by 82.0% during the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 41 shares during the period. Pineridge Advisors LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $29,000. Finally, Truvestments Capital LLC raised its stake in The Goldman Sachs Group by 88.0% during the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 44 shares during the period. 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.