Evercore ISI Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $594.00

by · The Markets Daily

The Goldman Sachs Group (NYSE:GS – Free Report) had its price objective cut by Evercore ISI from $660.00 to $594.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

A number of other equities analysts also recently issued reports on the company. Barclays increased their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Oppenheimer cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Citigroup cut their price objective on shares of 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. Finally, Morgan Stanley lowered their target price on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy 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 $591.13.

Get Our Latest Research Report on GS

The Goldman Sachs Group Trading Down 9.3 %

Shares of GS opened at $510.75 on Tuesday. The Goldman Sachs Group has a 1-year low of $387.12 and a 1-year high of $672.19. 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 firm’s 50-day moving average price is $600.89 and its 200-day moving average price is $572.87. The firm has a market capitalization of $159.37 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same period in the previous year, the firm posted $5.48 EPS. The business’s revenue was up 22.5% on a year-over-year basis. Sell-side analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were issued a $3.00 dividend. The ex-dividend date was Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 2.35%. The Goldman Sachs Group’s payout ratio is 29.59%.

Insiders Place Their Bets

In other news, Treasurer Carey Halio sold 1,545 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the transaction, the treasurer now directly owns 8,192 shares in the company, valued at $5,117,296.64. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kevin R. Johnson acquired 2,400 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average price of $619.02 per share, with a total value of $1,485,648.00. Following the transaction, the director now owns 2,400 shares of the company’s stock, valued at $1,485,648. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 19,925 shares of company stock valued at $12,630,683. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Asset Management One Co. Ltd. grew its position in shares of The Goldman Sachs Group by 2.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock valued at $129,144,000 after acquiring an additional 5,541 shares during the period. Erste Asset Management GmbH lifted its position in The Goldman Sachs Group by 5.9% during the fourth quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock valued at $3,309,000 after purchasing an additional 320 shares in the last quarter. Franklin Street Advisors Inc. NC grew its holdings in The Goldman Sachs Group by 8.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after purchasing an additional 2,863 shares during the period. Atlas Legacy Advisors LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth about $356,000. Finally, Baxter Bros Inc. increased its position in The Goldman Sachs Group by 1.0% in the fourth quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company’s stock worth $8,879,000 after buying an additional 151 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Company Profile

(Get Free Report)

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.

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