The Goldman Sachs Group (NYSE:GS) Given New $1,099.00 Price Target at Morgan Stanley

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by analysts at Morgan Stanley from $1,021.00 to $1,099.00 in a research report issued on Monday,MarketScreener reports. Morgan Stanley’s price objective suggests a potential upside of 6.23% from the stock’s current price.

A number of other research firms have also recently weighed in on GS. Bank of America lowered their price target on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the company a “market perform” rating in a report on Monday, April 20th. Jefferies Financial Group reduced their price target on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Weiss Ratings lowered shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $974.18.

The Goldman Sachs Group Stock Up 1.5%

Shares of GS opened at $1,034.58 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group has a 52 week low of $691.30 and a 52 week high of $1,125.00. The stock’s 50-day moving average price is $996.38 and its 200-day moving average price is $928.65. The company has a market capitalization of $305.21 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.33 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. During the same period in the previous year, the business earned $14.12 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts predict that The Goldman Sachs Group will post 59.6 EPS for the current year.

Insider Buying and Selling

In related news, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 33,681 shares of company stock valued at $31,737,875. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently made changes to their positions in the stock. Sapient Capital LLC grew its stake in shares of The Goldman Sachs Group by 294.2% during the 1st quarter. Sapient Capital LLC now owns 1,096 shares of the investment management company’s stock valued at $927,000 after buying an additional 818 shares during the period. PVG Asset Management Corp boosted its stake in shares of The Goldman Sachs Group by 43.2% in the first quarter. PVG Asset Management Corp now owns 401 shares of the investment management company’s stock valued at $339,000 after purchasing an additional 121 shares during the period. LFG Wealth Partners LLC grew its stake in shares of The Goldman Sachs Group by 2.8% during the first quarter. LFG Wealth Partners LLC now owns 1,883 shares of the investment management company’s stock valued at $1,593,000 after acquiring an additional 51 shares in the last quarter. FAS Wealth Partners Inc. increased its holdings in The Goldman Sachs Group by 2.9% during the 1st quarter. FAS Wealth Partners Inc. now owns 611 shares of the investment management company’s stock worth $517,000 after purchasing an additional 17 shares during the last quarter. Finally, Rathbones Group PLC boosted its stake in The Goldman Sachs Group by 3.9% during the 1st quarter. Rathbones Group PLC now owns 304,830 shares of the investment management company’s stock valued at $257,883,000 after acquiring an additional 11,557 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.