The Goldman Sachs Group (NYSE:GS) PT Raised to $405.00 at Royal Bank of Canada

The Goldman Sachs Group (NYSE:GS) had its price target increased by Royal Bank of Canada from $390.00 to $405.00 in a research note released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the investment management company’s stock.

Several other research analysts also recently issued reports on GS. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an outperform rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $424.00 to $433.00 and gave the company an overweight rating in a research report on Tuesday. Bank of America lifted their price target on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a buy rating in a research note on Tuesday. Daiwa Capital Markets raised The Goldman Sachs Group from a neutral rating to an outperform rating and upped their price objective for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Finally, Oppenheimer lifted their target price on shares of The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an outperform rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and fifteen 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 $434.93.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $404.00 on Tuesday. The business has a fifty day simple moving average of $396.43 and a 200 day simple moving average of $366.20. The company has a market cap of $131.11 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.29 and a beta of 1.43. 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 twelve month low of $289.36 and a twelve month high of $419.20.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $8.79 EPS. On average, sell-side analysts forecast that The Goldman Sachs Group will post 35.41 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is 42.95%.

Insider Activity

In related news, CFO Denis P. Coleman sold 12,680 shares of the 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 transaction, 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 SEC, which can be accessed through this hyperlink. In other 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 completion of the sale, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, 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. Insiders sold 35,907 shares of company stock worth $13,950,851 in the last quarter. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GS. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of The Goldman Sachs Group by 13.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock worth $64,291,000 after acquiring an additional 20,018 shares during the last quarter. Wealth Alliance raised its stake in shares of The Goldman Sachs Group by 17.3% in the fourth quarter. Wealth Alliance now owns 1,035 shares of the investment management company’s stock worth $399,000 after purchasing an additional 153 shares during the last quarter. Trueblood Wealth Management LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $989,000. TBH Global Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 2.0% during the third quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock valued at $1,190,000 after buying an additional 72 shares during the last quarter. Finally, Congress Wealth Management LLC DE grew its holdings in The Goldman Sachs Group by 27,076.5% during the third 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 in the last quarter. Institutional investors and hedge funds 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.