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

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

A number of other equities analysts have also weighed in on GS. Edward Jones began coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They set a buy rating on the stock. Royal Bank of Canada boosted their target price on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a sector perform rating in a research report on Tuesday, April 16th. Argus upgraded shares of The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price target on the stock in a research note on Tuesday, April 16th. Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the company an overweight rating in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $437.04.

The Goldman Sachs Group Price Performance

NYSE GS opened at $426.71 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $433.33. The company has a market capitalization of $138.48 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The firm’s 50 day moving average is $402.04 and its 200-day moving average is $372.58.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same period in the prior year, the firm earned $8.79 EPS. The Goldman Sachs Group’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group will post 35.86 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is 42.95%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were 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 owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 in the company, valued at approximately $7,190,901.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group 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 owns 29,417 shares in the company, valued at $11,602,947.31. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently modified their holdings of the business. First Personal Financial Services acquired a new position in The Goldman Sachs Group during the 1st quarter worth about $25,000. Versant Capital Management Inc lifted 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 acquiring an additional 34 shares during the period. First United Bank & Trust acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $26,000. Pineridge Advisors LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth $29,000. Finally, LifeSteps Financial Inc. bought a new position in shares of The Goldman Sachs Group during the first quarter valued at about $33,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.