The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report)'s stock price shot up 0.2% during mid-day trading on Thursday after HSBC raised their price target on the stock from $432.00 to $460.00. HSBC currently has a buy rating on the stock. The Goldman Sachs Group traded as high as $419.20 and last traded at $416.13. 585,811 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,310,853 shares. The stock had previously closed at $415.25.
Several other analysts have also weighed in on GS. Morgan Stanley raised shares of The Goldman Sachs Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Royal Bank of Canada reissued a "sector perform" rating and set a $390.00 price target on shares of The Goldman Sachs Group in a research note on Wednesday. Edward Jones initiated coverage on shares of The Goldman Sachs Group in a research note on Tuesday, February 27th. They set a "buy" rating on the stock. UBS Group increased their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the company a "buy" rating in a research note on Tuesday, January 9th. Finally, Barclays increased 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 note on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $411.10.
Read Our Latest Research Report on GS
Insider Buying and Selling
In related news, insider Brian J. Lee sold 3,000 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares of the company's stock, valued at approximately $3,809,443.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the business's stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now owns 11,463 shares of the company's stock, valued at approximately $4,357,659.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the business's stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the completion of the sale, the insider now directly owns 10,121 shares of the company's stock, valued at approximately $3,809,443.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,907 shares of company stock valued at $15,080,021. Company insiders own 0.54% of the company's stock.
Hedge Funds Weigh In On The Goldman Sachs Group
A number of institutional investors have recently added to or reduced their stakes in the stock. First United Bank & Trust bought a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $26,000. Pineridge Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $29,000. BKM Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $32,000. Cambridge Trust Co. boosted its stake in shares of The Goldman Sachs Group by 82.0% in 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 last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of The Goldman Sachs Group by 88.0% in 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 last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.
The Goldman Sachs Group Stock Performance
The stock's 50 day moving average price is $388.58 and its 200 day moving average price is $357.54. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $135.55 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.56 and a beta of 1.42.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $1.86. The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $10.80 billion. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The Goldman Sachs Group's revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.32 earnings per share. As a group, equities analysts expect that The Goldman Sachs Group, Inc. will post 33.13 EPS for the current year.
The Goldman Sachs Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be issued a dividend of $2.75 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $11.00 annualized dividend and a yield of 2.63%. The Goldman Sachs Group's payout ratio is 48.20%.
The Goldman Sachs Group Company Profile
(
Get Free Report)
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.
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