The Goldman Sachs Group (NYSE:GS) Price Target Raised to $517.00 at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its price objective increased by Oppenheimer from $479.00 to $517.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the investment management company’s stock.

A number of other research analysts also recently issued reports on the company. UBS Group boosted their price target on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a buy rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a neutral rating to an outperform rating and boosted their price objective for the company from $410.00 to $430.00 in a research report on Thursday, March 14th. HSBC raised their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, Barclays boosted their price target on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $437.04.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $5.73 during trading hours on Tuesday, hitting $438.30. 2,406,298 shares of the company’s stock were exchanged, compared to its average volume of 2,376,184. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $442.30. The company has a market capitalization of $142.24 billion, a PE ratio of 17.11, a PEG ratio of 1.34 and a beta of 1.40. The business’s 50 day simple moving average is $403.65 and its 200-day simple moving average is $373.37. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98.

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 the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The business 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 firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities research analysts anticipate that The Goldman Sachs Group will post 36.07 earnings per share 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 $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.51%. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the transaction, the treasurer now owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 directly owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,330 shares of company stock worth $11,713,578. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. First Personal Financial Services purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $25,000. First United Bank & Trust purchased a new stake in The Goldman Sachs Group in the fourth quarter worth about $26,000. Versant Capital Management Inc raised its stake in shares of The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the period. Cambridge Trust Co. lifted its position in shares of 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 buying an additional 41 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $29,000. 71.21% of the stock is currently owned by 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.