The Goldman Sachs Group (NYSE:GS) Hits New 1-Year High at $419.30

The Goldman Sachs Group, Inc. (NYSE:GS) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $419.30 and last traded at $418.66, with a volume of 396310 shares traded. The stock had previously closed at $417.35.

Wall Street Analyst Weigh In

Several research firms have issued reports on GS. HSBC boosted their price objective on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Barclays boosted their price objective on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Stock Down 0.2 %

The stock has a market capitalization of $137.29 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.34 and a beta of 1.43. The firm’s fifty day moving average is $398.72 and its 200-day moving average is $368.96. 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 released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same quarter in the previous year, the firm earned $8.79 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 35.39 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a dividend of $2.75 per share. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.60%. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. First United Bank & Trust acquired a new position in The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Pineridge Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter worth approximately $29,000. Tributary Capital Management LLC acquired a new position in The Goldman Sachs Group in the first quarter worth approximately $33,000. Finally, BKM Wealth Management LLC acquired a new position in The Goldman Sachs Group in the fourth quarter worth approximately $32,000. 71.21% of the stock is 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.