The Goldman Sachs Group (NYSE:GS) Shares Up 0.7%

The Goldman Sachs Group, Inc. (NYSE:GSGet Free Report)’s share price shot up 0.7% on Wednesday . The stock traded as high as $416.63 and last traded at $413.06. 441,072 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,297,704 shares. The stock had previously closed at $410.15.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GS. UBS Group upped their price objective 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. Edward Jones assumed coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $421.00 to $424.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Oppenheimer lowered their price objective on The Goldman Sachs Group from $506.00 to $446.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th. Finally, Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their target price for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $411.10.

Read Our Latest Report on The Goldman Sachs Group

The Goldman Sachs Group Stock Up 0.7 %

The firm has a market cap of $134.01 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.59 and a beta of 1.43. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.29. The firm has a fifty day moving average of $391.25 and a 200-day moving average of $359.92.

The Goldman Sachs Group (NYSE:GSGet Free Report) last released its quarterly earnings data on Tuesday, January 16th. The investment management company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $1.86. The firm had revenue of $11.32 billion for the quarter, compared to analyst estimates of $10.80 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.32 earnings per share. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 33.13 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 48.20%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,000 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the transaction, the insider now directly owns 10,121 shares of the company’s stock, valued at approximately $3,809,443.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were 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 legal filing with the SEC, which is available at the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the completion of the transaction, the insider now owns 10,121 shares of the company’s stock, valued at $3,809,443.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,907 shares of company stock valued at $15,080,021. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of The Goldman Sachs Group

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth $1,120,119,000. Morgan Stanley increased its holdings in The Goldman Sachs Group by 40.0% in the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after acquiring an additional 1,696,350 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 168,772.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock worth $427,367,000 after buying an additional 1,243,852 shares during the last quarter. Comerica Bank bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $2,300,710,000. Finally, Congress Wealth Management LLC DE increased its holdings in shares of The Goldman Sachs Group by 27,076.5% in the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after buying an additional 650,918 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

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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