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

by · The Cerbat Gem

The Goldman Sachs Group (NYSE:GS – Free Report) had its price objective raised by JMP Securities from $525.00 to $550.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a market outperform rating on the investment management company’s stock.

GS has been the topic of a number of other reports. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Oppenheimer increased their price target on The Goldman Sachs Group from $548.00 to $577.00 and gave the company an outperform rating in a research note on Wednesday, October 2nd. Citigroup upped their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a neutral rating in a report on Tuesday, July 16th. Finally, Barclays upped their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $504.75.

Check Out Our Latest Research Report on GS

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $516.30 on Wednesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $517.97. The company’s 50-day moving average is $493.06 and its 200 day moving average is $465.15. The stock has a market capitalization of $163.05 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, sell-side analysts expect that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

Insider Activity at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of large investors have recently bought and sold shares of GS. Empowered Funds LLC raised its position in shares of The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after buying an additional 2,428 shares during the last quarter. Duality Advisers LP acquired a new position in The Goldman Sachs Group in the first quarter valued at about $1,388,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of The Goldman Sachs Group by 34.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after purchasing an additional 2,103 shares during the period. Axxcess Wealth Management LLC lifted its stake in The Goldman Sachs Group by 25.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $1,357,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

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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