HSBC Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $470.00

The Goldman Sachs Group (NYSE:GS) had its price objective upped by HSBC from $460.00 to $470.00 in a research report released on Tuesday morning, Benzinga reports. HSBC currently has a buy rating on the investment management company’s stock.

A number of other equities research analysts have also issued reports on the company. Argus raised The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price target for the company in a research note on Tuesday. Evercore ISI raised their price target on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an outperform rating in a research note on Tuesday. Royal Bank of Canada raised their price target 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. Bank of America raised their price target on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Edward Jones assumed coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They set a buy rating on the stock. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $434.93.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $403.11 on Tuesday. The firm has a market capitalization of $130.82 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.54 and a beta of 1.43. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $419.20. The business has a 50 day simple moving average of $396.03 and a 200-day simple moving average of $365.61. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76.

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 return on equity of 8.65% and a net margin of 8.17%. The firm had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same period last year, the company earned $8.79 EPS. The Goldman Sachs Group’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that The Goldman Sachs Group will post 32.76 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.73%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Insider Activity

In other news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the transaction, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the transaction, the insider now owns 6,501 shares in the company, valued at $2,469,144.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,907 shares of company stock worth $13,950,851. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GS. First United Bank & Trust acquired a new stake in The Goldman Sachs Group during the 4th quarter worth about $26,000. Versant Capital Management Inc grew its stake in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares during the last quarter. Cambridge Trust Co. grew its stake in The Goldman Sachs Group by 82.0% during the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 41 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at about $29,000. Finally, Truvestments Capital LLC grew its stake in The Goldman Sachs Group by 88.0% during the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 44 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

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.