Keefe, Bruyette & Woods Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $520.00

The Goldman Sachs Group (NYSE:GS) had its price target lifted by Keefe, Bruyette & Woods from $485.00 to $520.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

Other equities analysts have also recently issued research reports about the stock. Citigroup raised their price target on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Royal Bank of Canada boosted their target price on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a sector perform rating in a research note on Tuesday, April 16th. Argus raised 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 report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets raised their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the company a market perform rating in a report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and sixteen have assigned 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 $443.78.

The Goldman Sachs Group Price Performance

GS stock opened at $452.32 on Thursday. The business’s fifty day moving average price is $449.86 and its 200 day moving average price is $410.79. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $471.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $145.86 billion, a PE ratio of 17.66, a P/E/G ratio of 0.90 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping 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 8.86%. The company had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same period in the prior year, the firm earned $8.79 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts anticipate that The Goldman Sachs Group will post 36.59 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were given a $2.75 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.43%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

Insiders Place Their Bets

In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now directly owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds have recently added to or reduced their stakes in GS. Capital World Investors boosted its stake in shares of The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after buying an additional 338,181 shares in the last quarter. Morgan Stanley grew its stake in shares of The Goldman Sachs Group by 7.8% during the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after purchasing an additional 412,383 shares during the period. Fisher Asset Management LLC increased its holdings in shares of The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock valued at $2,128,693,000 after purchasing an additional 152,474 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of The Goldman Sachs Group by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock valued at $2,004,153,000 after purchasing an additional 27,524 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after buying an additional 274,989 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.