The Goldman Sachs Group (NYSE:GS) Reaches New 1-Year High Following Insider Buying Activity

The Goldman Sachs Group, Inc. (NYSE:GS)’s share price reached a new 52-week high on Wednesday after an insider bought additional shares in the company. The stock traded as high as $635.43 and last traded at $634.74, with a volume of 5070681 shares changing hands. The stock had previously closed at $625.94.

Specifically, Director Kevin R. Johnson bought 2,400 shares of the stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $619.02 per share, for a total transaction of $1,485,648.00. Following the completion of the purchase, the director now directly owns 2,400 shares in the company, valued at approximately $1,485,648. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of research firms recently commented on GS. Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Hsbc Global Res lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JMP Securities lifted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Finally, Evercore ISI lifted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $591.06.

The Goldman Sachs Group Stock Up 0.9 %

The firm has a market cap of $200.49 billion, a PE ratio of 15.75, a PEG ratio of 0.89 and a beta of 1.38. The business’s 50 day moving average price is $589.34 and its 200 day moving average price is $533.75. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same period in the prior year, the business posted $5.48 EPS. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 46.81 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently made changes to their positions in the company. West Branch Capital LLC acquired a new stake in shares of The Goldman Sachs Group in the third quarter worth approximately $30,000. DT Investment Partners LLC boosted its stake in shares of The Goldman Sachs Group by 110.0% in the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 33 shares during the period. Truvestments Capital LLC purchased a new position in shares of The Goldman Sachs Group in the third quarter valued at $34,000. Country Trust Bank acquired a new stake in The Goldman Sachs Group in the third quarter valued at $37,000. Finally, Hershey Financial Advisers LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at $38,000. 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.