Analysts Set The Goldman Sachs Group, Inc. (NYSE:GS) Price Target at $593.40

Shares of The Goldman Sachs Group, Inc. (NYSE:GSGet Free Report) have been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $593.40.

Several brokerages recently commented on GS. Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price target on the stock. in a report on Friday, April 4th. Evercore ISI dropped their target price on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Royal Bank of Canada dropped their target price on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 15th. Daiwa America downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Morgan Stanley set a $558.00 target price on shares of The Goldman Sachs Group and gave the stock an “equal weight” rating in a research note on Monday, April 7th.

Get Our Latest Research Report on GS

The Goldman Sachs Group Trading Up 1.4%

Shares of GS opened at $614.49 on Wednesday. The company’s fifty day moving average is $555.71 and its 200 day moving average is $582.82. The Goldman Sachs Group has a fifty-two week low of $437.37 and a fifty-two week high of $672.19. The stock has a market capitalization of $188.55 billion, a PE ratio of 15.15, a P/E/G ratio of 0.89 and a beta of 1.32. 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 Goldman Sachs Group (NYSE:GSGet Free Report) last announced its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the prior year, the firm posted $11.58 earnings per share. Sell-side analysts expect that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.95%. The Goldman Sachs Group’s dividend payout ratio is currently 27.85%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were purchased at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the purchase, the director now directly owns 3,904 shares of the company’s stock, valued at $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after buying an additional 3,970,467 shares during the period. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group during the first quarter valued at $1,766,238,000. Norges Bank acquired a new stake in The Goldman Sachs Group during the fourth quarter valued at $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter valued at $944,334,000. Finally, Nuveen LLC acquired a new stake in The Goldman Sachs Group during the first quarter valued at $897,185,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

(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.

Further Reading

Analyst Recommendations for The Goldman Sachs Group (NYSE:GS)

Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.