The Goldman Sachs Group (NYSE:GS) PT Raised to $470.00

The Goldman Sachs Group (NYSE:GS) had its price target lifted by stock analysts at HSBC from $460.00 to $470.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the investment management company’s stock. HSBC’s price target would suggest a potential upside of 16.36% from the stock’s current price.

A number of other analysts have also recently commented on GS. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $333.00 to $449.00 in a research report on Tuesday, January 30th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research report on Tuesday. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $445.00 to $485.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Citigroup upped their price objective on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Evercore ISI upped their price objective on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Trading Up 1.8 %

The Goldman Sachs Group stock opened at $403.91 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The business’s fifty day simple moving average is $395.67 and its two-hundred day simple moving average is $365.35. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $419.20. The company has a market capitalization of $131.08 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The firm had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $8.79 earnings per share. As a group, equities analysts predict that The Goldman Sachs Group will post 32.76 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the sale, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The disclosure for this sale can be found here. Insiders sold 35,907 shares of company stock valued at $13,950,851 in the last ninety days. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently modified their holdings of GS. Fairfield Bush & CO. purchased a new position in The Goldman Sachs Group during the 1st quarter worth $66,000. Candriam Luxembourg S.C.A. increased its holdings in The Goldman Sachs Group by 1,505.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after purchasing an additional 38,727 shares during the period. Baird Financial Group Inc. increased its holdings in The Goldman Sachs Group by 18.5% during the 1st quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after purchasing an additional 18,540 shares during the period. Zions Bancorporation N.A. increased its holdings in The Goldman Sachs Group by 79.4% during the 1st quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock worth $273,000 after purchasing an additional 366 shares during the period. Finally, Covestor Ltd increased its holdings in The Goldman Sachs Group by 118.3% during the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock worth $102,000 after purchasing an additional 168 shares during the period. 71.21% of the stock is owned by institutional investors.

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.