The Goldman Sachs Group (NYSE:GS) Hits New 12-Month High at $443.57

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $443.57 and last traded at $443.43, with a volume of 324236 shares traded. The stock had previously closed at $438.18.

Analysts Set New Price Targets

A number of research firms have commented on GS. JMP Securities upped their price target on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Royal Bank of Canada increased their target price on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 16th. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Finally, Argus upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $440.57.

The Goldman Sachs Group Price Performance

The stock has a market cap of $144.01 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.38 and a beta of 1.40. The business has a 50 day simple moving average of $406.72 and a 200-day simple moving average of $377.23. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12.

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 the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.79 earnings per share. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 36.07 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be paid a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.48%. The Goldman Sachs Group’s payout ratio is 42.95%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, 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 transaction 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 approximately $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s 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 directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,330 shares of company stock valued at $11,713,578. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently modified their holdings of the company. Brown Advisory Inc. lifted its stake in The Goldman Sachs Group by 15.6% during the third quarter. Brown Advisory Inc. now owns 13,462 shares of the investment management company’s stock worth $4,356,000 after purchasing an additional 1,812 shares during the last quarter. Cambridge Trust Co. boosted its stake in The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after buying an additional 41 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in The Goldman Sachs Group by 1.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,021 shares of the investment management company’s stock valued at $26,217,000 after acquiring an additional 1,370 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of The Goldman Sachs Group by 6.8% during the third quarter. Chicago Partners Investment Group LLC now owns 1,151 shares of the investment management company’s stock worth $344,000 after acquiring an additional 73 shares in the last quarter. Finally, Advisor Partners II LLC lifted its holdings in shares of The Goldman Sachs Group by 7.7% in the 3rd quarter. Advisor Partners II LLC now owns 9,729 shares of the investment management company’s stock worth $3,148,000 after acquiring an additional 699 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Company Profile

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.