Citigroup Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $550.00

The Goldman Sachs Group (NYSE:GS) had its price objective cut by Citigroup from $585.00 to $550.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. upped their price objective on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley lowered their price target on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. 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 research note on Thursday, January 16th. UBS Group boosted their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of The Goldman Sachs Group in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $591.93.

The Goldman Sachs Group Stock Up 2.8 %

GS opened at $581.12 on Monday. The company has a market capitalization of $181.33 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s fifty day moving average price is $611.24 and its two-hundred day moving average price is $569.86. The Goldman Sachs Group has a fifty-two week low of $387.12 and a fifty-two week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results 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 business had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the business earned $5.48 EPS. On average, analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 3,640 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $636.74, for a total value of $2,317,733.60. Following the transaction, the treasurer now directly owns 4,552 shares of the company’s stock, valued at approximately $2,898,440.48. This trade represents a 44.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now owns 6,455 shares of the company’s stock, valued at $4,047,349.55. The trade was a 23.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,925 shares of company stock worth $12,630,683. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors have recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. lifted its stake in The Goldman Sachs Group by 10.9% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after buying an additional 16 shares in the last quarter. Ledyard National Bank raised its holdings in shares of The Goldman Sachs Group by 3.4% during the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock worth $278,000 after acquiring an additional 16 shares during the period. Seelaus Asset Management LLC lifted its position in The Goldman Sachs Group by 2.5% in the 4th quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock valued at $378,000 after acquiring an additional 16 shares in the last quarter. Pointe Capital Management LLC boosted its stake in The Goldman Sachs Group by 1.0% in the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock worth $951,000 after purchasing an additional 16 shares during the period. Finally, Genesee Capital Advisors LLC increased its holdings in The Goldman Sachs Group by 1.0% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock worth $1,024,000 after purchasing an additional 17 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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.