The Goldman Sachs Group (NYSE:GS) Price Target Lowered to $680.00 at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its price target cut by Wells Fargo & Company from $720.00 to $680.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

Several other research analysts also recently weighed in on the stock. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Morgan Stanley cut their price target on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $605.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $590.60.

The Goldman Sachs Group Trading Down 2.8 %

Shares of The Goldman Sachs Group stock opened at $543.04 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market cap of $169.45 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group has a 52-week low of $387.12 and a 52-week high of $672.19. The company’s 50-day simple moving average is $608.15 and its 200-day simple moving average is $570.93.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the prior year, the company earned $5.48 earnings per share. The Goldman Sachs Group’s revenue was up 22.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were paid a $3.00 dividend. The ex-dividend date was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the transaction, the insider now directly owns 3,545 shares in the company, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total transaction of $965,115.15. Following the completion of the transaction, the treasurer now directly owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,925 shares of company stock worth $12,630,683 in the last ninety days. 0.54% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. raised its stake in The Goldman Sachs Group by 10.9% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock worth $93,000 after acquiring an additional 16 shares during the period. Ledyard National Bank raised its position in shares of The Goldman Sachs Group by 3.4% during the 4th quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock worth $278,000 after purchasing an additional 16 shares during the period. Seelaus Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 2.5% in the 4th quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock worth $378,000 after purchasing an additional 16 shares during the last quarter. Pointe Capital Management LLC boosted its position in The Goldman Sachs Group by 1.0% during the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock valued at $951,000 after purchasing an additional 16 shares during the period. Finally, Genesee Capital Advisors LLC grew its stake in The Goldman Sachs Group by 1.0% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock worth $1,024,000 after buying an additional 17 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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.