JPMorgan Chase & Co. Raises The Goldman Sachs Group (NYSE:GS) Price Target to $433.00

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by JPMorgan Chase & Co. from $424.00 to $433.00 in a research note issued to investors on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the investment management company’s stock.

Other equities analysts also recently issued reports about the company. HSBC raised their price target on The Goldman Sachs Group from $432.00 to $460.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Daiwa Capital Markets upgraded The Goldman Sachs Group from a neutral rating to an outperform rating and raised their price target for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Barclays lifted their target price on 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. Bank of America lifted their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a buy rating in a research report on Tuesday. Finally, JMP Securities lifted their target price on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a market outperform rating in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of Moderate Buy and an average price target of $434.93.

The Goldman Sachs Group Stock Down 0.2 %

The Goldman Sachs Group stock opened at $403.11 on Tuesday. The firm has a market cap of $130.82 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.54 and a beta of 1.43. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $419.20. 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 stock has a fifty day simple moving average of $396.03 and a two-hundred day simple moving average of $365.61.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The firm had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the business posted $8.79 EPS. Equities analysts predict that The Goldman Sachs Group will post 32.76 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.73%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the sale, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,907 shares of company stock valued at $13,950,851. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GS. International Assets Investment Management LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at approximately $1,903,374,000. Norges Bank purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $1,120,119,000. Morgan Stanley boosted its holdings in shares of The Goldman Sachs Group by 40.0% in the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after purchasing an additional 1,696,350 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 168,772.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after purchasing an additional 1,243,852 shares during the period. Finally, Congress Wealth Management LLC DE boosted its holdings in shares of The Goldman Sachs Group by 27,076.5% in the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after purchasing an additional 650,918 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.