The Goldman Sachs Group (NYSE:GS) Hits New 1-Year High – Still a Buy?

The Goldman Sachs Group, Inc. (NYSE:GS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $820.00 and last traded at $821.25, with a volume of 138821 shares trading hands. The stock had previously closed at $805.56.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Morgan Stanley upped their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $665.00.

The Goldman Sachs Group Price Performance

The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $245.94 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.68 and a beta of 1.41. The stock’s 50 day simple moving average is $739.87 and its 200-day simple moving average is $640.52.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm earned $8.62 EPS. The Goldman Sachs Group’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares of the company’s stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. Dogwood Wealth Management LLC increased its stake in The Goldman Sachs Group by 1,800.0% during the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 36 shares during the period. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Godsey & Gibb Inc. lifted its position in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $31,000. 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.