The Goldman Sachs Group (NYSE:GS) Price Target Cut to $560.00 by Analysts at Royal Bank of Canada

The Goldman Sachs Group (NYSE:GS) had its target price decreased by Royal Bank of Canada from $610.00 to $560.00 in a research note published on Tuesday, MarketBeat.com reports. Royal Bank of Canada currently has a sector perform rating on the investment management company’s stock.

Several other brokerages have also weighed in on GS. Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research report on Friday, April 4th. Citigroup lowered their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Daiwa America cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. JPMorgan Chase & Co. decreased their target price on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Finally, UBS Group lifted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $593.40.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $509.83 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a 50 day simple moving average of $564.71 and a 200-day simple moving average of $572.11. The company has a market cap of $159.09 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group has a 12-month low of $402.41 and a 12-month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the prior year, the business posted $11.58 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group will post 47.12 EPS 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. Stockholders of record on Friday, May 30th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Insider Activity at The Goldman Sachs Group

In related news, Treasurer Carey Halio sold 3,640 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $636.74, for a total value of $2,317,733.60. Following the completion of the sale, the treasurer now directly owns 4,552 shares in the company, valued at approximately $2,898,440.48. The trade was a 44.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess purchased 3,904 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were bought at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the purchase, the director now owns 3,904 shares of the company’s stock, valued at $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 19,925 shares of company stock worth $12,630,683. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors have recently added to or reduced their stakes in the company. NBT Bank N A NY raised its holdings in shares of The Goldman Sachs Group by 9.9% in the 1st quarter. NBT Bank N A NY now owns 9,293 shares of the investment management company’s stock worth $5,077,000 after purchasing an additional 838 shares during the period. Strategic Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 10.6% during the 1st quarter. Strategic Advisors LLC now owns 19,216 shares of the investment management company’s stock worth $10,497,000 after purchasing an additional 1,842 shares during the period. Kercheville Advisors LLC increased its position in The Goldman Sachs Group by 8.1% during the 1st quarter. Kercheville Advisors LLC now owns 2,675 shares of the investment management company’s stock worth $1,461,000 after purchasing an additional 200 shares in the last quarter. Vivid Wealth Management LLC raised its holdings in The Goldman Sachs Group by 3.4% in the first quarter. Vivid Wealth Management LLC now owns 4,218 shares of the investment management company’s stock valued at $2,304,000 after buying an additional 137 shares during the period. Finally, Vicus Capital lifted its position in The Goldman Sachs Group by 20.8% during the first quarter. Vicus Capital now owns 883 shares of the investment management company’s stock valued at $483,000 after buying an additional 152 shares in the last quarter. 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.