The Goldman Sachs Group (NYSE:GS) Price Target Lowered to $720.00 at Barclays

The Goldman Sachs Group (NYSE:GS) had its target price decreased by Barclays from $760.00 to $720.00 in a research note released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the investment management company’s stock.

GS has been the subject of several other research reports. Wells Fargo & Company dropped their price objective on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Evercore ISI reduced their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Finally, Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research note on Friday, April 4th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $585.38.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $507.94 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a fifty day moving average of $570.64 and a 200-day moving average of $572.51. The Goldman Sachs Group has a 52-week low of $395.18 and a 52-week high of $672.19. The company has a market capitalization of $158.50 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.89 and a beta of 1.33.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same quarter last year, the company earned $11.58 EPS. As a group, equities research analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a dividend of $3.00 per share. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a yield of 2.36%. The Goldman Sachs Group’s payout ratio is presently 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the sale, the treasurer now owns 8,192 shares in the company, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin R. Johnson purchased 2,400 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the completion of the acquisition, the director now directly owns 2,400 shares of the company’s stock, valued at $1,485,648. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 19,925 shares of company stock worth $12,630,683. Company insiders own 0.55% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors have recently made changes to their positions in GS. Morse Asset Management Inc acquired a new position in The Goldman Sachs Group during the third quarter worth about $911,000. M&T Bank Corp lifted its stake in The Goldman Sachs Group by 0.6% in the 3rd quarter. M&T Bank Corp now owns 27,271 shares of the investment management company’s stock worth $13,502,000 after purchasing an additional 157 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 8.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,553 shares of the investment management company’s stock worth $1,759,000 after purchasing an additional 286 shares during the last quarter. Chelsea Counsel Co. increased its holdings in shares of The Goldman Sachs Group by 400.0% in the third quarter. Chelsea Counsel Co. now owns 375 shares of the investment management company’s stock valued at $186,000 after purchasing an additional 300 shares during the last quarter. Finally, Tudor Financial Inc. purchased a new position in The Goldman Sachs Group during the third quarter worth approximately $228,000. 71.21% of the stock is owned by institutional investors and hedge funds.

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.