Wells Fargo & Company Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $650.00

The Goldman Sachs Group (NYSE:GS - Free Report) had its target price lowered by Wells Fargo & Company from $680.00 to $650.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the investment management company's stock.

Several other brokerages have also recently issued reports on GS. Barclays reduced their price target 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. Oppenheimer downgraded The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their target price on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. UBS Group increased their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley set a $558.00 target price on The Goldman Sachs Group and gave the company an "equal weight" rating in a report on Monday, April 7th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $593.40.

The Goldman Sachs Group Trading Up 2.2 %

Shares of NYSE GS traded up $10.78 during trading on Tuesday, hitting $509.83. 2,587,774 shares of the company were exchanged, compared to its average volume of 2,376,637. 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 Goldman Sachs Group has a 12-month low of $403.01 and a 12-month high of $672.19. The company has a fifty day moving average price of $561.96 and a 200-day moving average price of $572.24. The firm has a market capitalization of $159.09 billion, a PE ratio of 12.57, a P/E/G ratio of 0.89 and a beta of 1.33.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. During the same quarter in the prior year, the company posted $11.58 EPS. As a group, equities research analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be 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 is Friday, May 30th. The Goldman Sachs Group's payout ratio is currently 29.59%.

Insider Transactions at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 7,498 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the completion of the transaction, the insider now directly owns 9,589 shares in the company, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alex S. Golten sold 5,208 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the transaction, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock valued at $12,630,683 over the last 90 days. Corporate insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several large investors have recently modified their holdings of GS. Stephens Consulting LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Asset Planning Inc bought a new stake in The Goldman Sachs Group during the fourth quarter valued at $29,000. Curio Wealth LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $30,000. Godsey & Gibb Inc. boosted its holdings 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 valued at $30,000 after buying an additional 34 shares during the period. Finally, Transce3nd LLC bought 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.

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.