The Goldman Sachs Group (NYSE:GS) Upgraded to Buy at Argus

Argus upgraded shares of The Goldman Sachs Group (NYSE:GS) from a hold rating to a buy rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. Argus currently has $465.00 price target on the investment management company’s stock.

A number of other equities research analysts have also commented on the company. Daiwa Capital Markets upgraded The Goldman Sachs Group from a neutral rating to an outperform rating and raised their price objective for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Oppenheimer lowered their price objective on shares of The Goldman Sachs Group from $506.00 to $446.00 and set an outperform rating on the stock in a research report on Tuesday, March 19th. BMO Capital Markets increased their target price on shares of The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a market perform rating in a research report on Thursday, January 18th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the company an outperform rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $390.00 price objective on shares of The Goldman Sachs Group in a report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of Moderate Buy and a consensus target price of $434.93.

The Goldman Sachs Group Stock Up 0.2 %

GS stock opened at $404.00 on Tuesday. The company’s 50 day simple moving average is $396.43 and its 200-day simple moving average is $366.20. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $419.20. 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 firm has a market capitalization of $131.11 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.31 and a beta of 1.43.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same quarter in the prior year, the company earned $8.79 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Goldman Sachs Group will post 35.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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 $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is 42.95%.

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s 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 transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the sale, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The disclosure for this sale can be found here. In the last three months, insiders sold 35,907 shares of company stock valued at $13,950,851. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GS. Cohen Investment Advisors LLC increased its position in shares of The Goldman Sachs Group by 3.7% during the first quarter. Cohen Investment Advisors LLC now owns 8,132 shares of the investment management company’s stock valued at $3,397,000 after purchasing an additional 289 shares during the period. FORVIS Wealth Advisors LLC boosted its stake in The Goldman Sachs Group by 26.5% during the first quarter. FORVIS Wealth Advisors LLC now owns 2,108 shares of the investment management company’s stock worth $880,000 after buying an additional 441 shares in the last quarter. GenTrust LLC increased its holdings in The Goldman Sachs Group by 21.4% in the 1st quarter. GenTrust LLC now owns 9,621 shares of the investment management company’s stock valued at $4,019,000 after buying an additional 1,694 shares during the period. FCG Investment Co raised its stake in shares of The Goldman Sachs Group by 86.5% in the 1st quarter. FCG Investment Co now owns 1,414 shares of the investment management company’s stock valued at $591,000 after buying an additional 656 shares in the last quarter. Finally, Insight Folios Inc lifted its holdings in shares of The Goldman Sachs Group by 17.7% during the 1st quarter. Insight Folios Inc now owns 1,939 shares of the investment management company’s stock worth $810,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.