The Goldman Sachs Group (NYSE:GS) Shares Up 4.7% – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS) shot up 4.7% during mid-day trading on Monday . The stock traded as high as $603.37 and last traded at $593.84. 1,317,731 shares changed hands during trading, a decline of 44% from the average session volume of 2,369,561 shares. The stock had previously closed at $567.10.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GS. Daiwa America cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. JMP Securities reduced their price objective on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Barclays reduced their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research report on Friday, April 4th. Finally, Royal Bank of Canada reduced their price objective on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 15th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $593.40.

The Goldman Sachs Group Trading Up 4.3%

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 stock’s 50 day moving average price is $535.92 and its 200-day moving average price is $576.75. The stock has a market capitalization of $181.44 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.89 and a beta of 1.32.

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, beating analysts’ consensus estimates of $12.57 by $1.55. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same period last year, the firm earned $11.58 earnings per share. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.03%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.85%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director John B. Hess bought 3,904 shares of the stock in a transaction on Tuesday, April 15th. The stock was bought at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the purchase, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently made changes to their positions in GS. Stephens Consulting LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $26,000. Asset Planning Inc acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $29,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth $29,000. Curio Wealth LLC acquired a new position in The Goldman Sachs Group during the fourth quarter valued at $30,000. Finally, Godsey & Gibb Inc. lifted its position in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.