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

The Goldman Sachs Group (NYSE:GS - Free Report) had its target price lowered by Evercore ISI from $660.00 to $594.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the investment management company's stock.

GS has been the topic of a number of other reports. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Citigroup reduced 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 research report on Monday, March 24th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. UBS Group lifted 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, Morgan Stanley decreased their price target on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and an average price target of $591.13.

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The Goldman Sachs Group Trading Down 9.3 %

NYSE:GS traded down $52.35 during midday trading on Tuesday, reaching $510.75. 5,171,344 shares of the stock traded hands, compared to its average volume of 2,748,291. The stock has a market capitalization of $159.37 billion, a P/E ratio of 12.60, a PEG ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group has a 12 month low of $387.12 and a 12 month high of $672.19. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a fifty day moving average of $603.45 and a 200 day moving average of $573.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts' consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same period in the prior year, the business posted $5.48 earnings per share. The Goldman Sachs Group's revenue for the quarter was up 22.5% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, February 28th. The Goldman Sachs Group's payout ratio is 29.59%.

Insider Buying and Selling

In other news, Treasurer Carey Halio sold 1,545 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the sale, the treasurer now directly owns 8,192 shares in the company, valued at $5,117,296.64. The trade was a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 6,455 shares in the company, valued at approximately $4,047,349.55. This trade represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,925 shares of company stock worth $12,630,683 in the last three months. Insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of large investors have recently added to or reduced their stakes in the stock. Stephens Consulting LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $30,000. Transce3nd LLC bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $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.