The Goldman Sachs Group (NYSE:GS) Price Target Increased to $479.00 by Analysts at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by Oppenheimer from $446.00 to $479.00 in a research report report published on Tuesday, Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

Several other analysts also recently issued reports on GS. Royal Bank of Canada reissued a sector perform rating and issued a $390.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, March 27th. Morgan Stanley raised shares of The Goldman Sachs Group from an equal weight rating to an overweight rating and boosted their target price for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a neutral rating to an outperform rating and raised their price target for the company from $410.00 to $430.00 in a research report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $421.00 to $424.00 and gave the stock an overweight rating in a report on Thursday, March 21st. Finally, UBS Group lifted their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a buy rating in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $434.93.

The Goldman Sachs Group Price Performance

Shares of GS opened at $404.00 on Tuesday. The firm has a market cap of $131.11 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.43. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $419.20. The business’s 50 day moving average price is $396.43 and its two-hundred day moving average price is $366.20. 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 posted its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping 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 business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same period in the prior year, the business earned $8.79 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities analysts anticipate that The Goldman Sachs Group will post 35.41 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

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

Insider Activity

In related news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group 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 sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the business’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 transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders sold 35,907 shares of company stock valued at $13,950,851 in the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Fairfield Bush & CO. bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $66,000. Candriam Luxembourg S.C.A. increased its position in shares of The Goldman Sachs Group by 1,505.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock valued at $13,633,000 after buying an additional 38,727 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of The Goldman Sachs Group by 18.5% in the first quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after buying an additional 18,540 shares in the last quarter. Zions Bancorporation N.A. boosted its position in shares of The Goldman Sachs Group by 79.4% in the first quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock valued at $273,000 after acquiring an additional 366 shares during the period. Finally, Covestor Ltd grew its stake in The Goldman Sachs Group by 118.3% during the first quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock valued at $102,000 after acquiring an additional 168 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other 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.