Barclays Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

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

GS has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Citigroup dropped their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Morgan Stanley set a $558.00 price target on The Goldman Sachs Group and gave the company an “equal weight” rating in a report on Monday, April 7th. Finally, Daiwa Capital Markets lowered The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Friday, April 4th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $593.40.

The Goldman Sachs Group Trading Up 2.2 %

Shares of GS stock opened at $509.83 on Tuesday. 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 company has a market cap of $159.09 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group has a 1 year low of $402.41 and a 1 year high of $672.19. The firm has a fifty day moving average price of $564.71 and a 200-day moving average price of $572.11.

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

The Goldman Sachs Group Dividend Announcement

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

Insider Transactions at The Goldman Sachs Group

In related news, Director John B. Hess bought 3,904 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was purchased at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the acquisition, the director now owns 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the 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 sale, the insider now owns 9,589 shares in the company, valued at $6,086,042.41. The trade was a 43.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,925 shares of company stock worth $12,630,683 in the last three months. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. grew its stake in shares of The Goldman Sachs Group by 10.9% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after buying an additional 16 shares during the last quarter. Ledyard National Bank grew its position in The Goldman Sachs Group by 3.4% in the 4th quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after acquiring an additional 16 shares during the last quarter. Seelaus Asset Management LLC increased its stake in The Goldman Sachs Group by 2.5% in the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock worth $378,000 after purchasing an additional 16 shares during the period. Pointe Capital Management LLC lifted its position in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock worth $951,000 after purchasing an additional 16 shares during the last quarter. Finally, Genesee Capital Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is currently owned by 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.