Goldman Sachs Group (GS) Given New $260.00 Price Target at BMO Capital Markets

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Goldman Sachs Group (NYSE:GS) had its price objective lowered by BMO Capital Markets from $262.00 to $260.00 in a report published on Tuesday morning, The Fly reports. The brokerage currently has a market perform rating on the investment management company’s stock.

Several other research firms have also commented on GS. TheStreet raised shares of Goldman Sachs Group from a c+ rating to a b- rating in a research report on Tuesday, February 5th. Oppenheimer increased their price objective on shares of Goldman Sachs Group from $257.00 to $272.00 and gave the company an outperform rating in a research report on Thursday, January 17th. Societe Generale lowered shares of Goldman Sachs Group from a hold rating to a sell rating in a research report on Friday, February 1st. Zacks Investment Research lowered shares of Goldman Sachs Group from a hold rating to a sell rating in a research report on Wednesday, April 10th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $250.00 price objective (down from $258.00) on shares of Goldman Sachs Group in a research report on Monday, December 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Goldman Sachs Group has an average rating of Hold and a consensus target price of $245.85.

GS stock opened at $201.84 on Tuesday. The stock has a market cap of $73.32 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 1.29 and a beta of 1.22. Goldman Sachs Group has a one year low of $151.70 and a one year high of $262.25. The company has a quick ratio of 0.92, a current ratio of 0.86 and a debt-to-equity ratio of 2.50.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $5.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.97. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $8.89 billion. Goldman Sachs Group had a net margin of 25.13% and a return on equity of 12.35%. The company’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.95 earnings per share. Analysts predict that Goldman Sachs Group will post 22.94 earnings per share for the current year.

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 $0.85 dividend. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, May 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 12.66%.

In related news, EVP Dane E. Holmes sold 1,489 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $198.31, for a total value of $295,283.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Toth Financial Advisory Corp raised its position in Goldman Sachs Group by 100.0% during the 1st quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after buying an additional 70 shares during the last quarter. Capital Financial Planning LLC purchased a new position in Goldman Sachs Group during the 4th quarter worth approximately $26,000. Liberty Wealth Management LLC purchased a new position in Goldman Sachs Group during the 4th quarter worth approximately $29,000. Loeb Partners Corp purchased a new position in Goldman Sachs Group during the 4th quarter worth approximately $33,000. Finally, Riverview Trust Co purchased a new position in Goldman Sachs Group during the 4th quarter worth approximately $33,000. 70.11% of the stock is owned by institutional investors.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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