Barclays Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $720.00

The Goldman Sachs Group (NYSE:GS) had its price target reduced by Barclays from $760.00 to $720.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

A number of other equities analysts also recently commented on GS. UBS Group upped their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Evercore ISI decreased their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Citigroup reduced their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company decreased their price target on shares of The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, Oppenheimer cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $593.40.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $509.83 on Tuesday. The company’s fifty day simple moving average is $564.71 and its two-hundred day simple moving average is $572.11. The Goldman Sachs Group has a 12-month low of $402.41 and a 12-month high of $672.19. The firm has a market cap of $159.09 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same period last year, the firm earned $11.58 earnings per share. As a group, equities analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group’s payout ratio is 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the sale, the treasurer now owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the transaction, the insider now directly owns 9,589 shares in the company, valued at approximately $6,086,042.41. The trade was a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,925 shares of company stock worth $12,630,683. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently bought and sold shares of GS. Stephens Consulting LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $26,000. Asset Planning Inc bought a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Curio Wealth LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $30,000. Mascagni Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Finally, Transce3nd LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. Hedge funds and other institutional investors 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.