The Goldman Sachs Group (NYSE:GS) Price Target Raised to $520.00

The Goldman Sachs Group (NYSE:GS) had its price target boosted by research analysts at Keefe, Bruyette & Woods from $485.00 to $520.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 14.96% from the company’s current price.

Other analysts also recently issued research reports about the stock. Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Argus upgraded shares of 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, April 16th. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Finally, Bank of America upped their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $443.78.

The Goldman Sachs Group Trading Up 1.4 %

NYSE GS opened at $452.32 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.18. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $471.48. The stock has a market capitalization of $145.86 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39. The firm has a 50 day moving average of $449.86 and a two-hundred day moving average of $410.39.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The company had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. During the same quarter in the previous year, the business posted $8.79 EPS. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group will post 36.59 EPS for the current fiscal year.

Insider Transactions at The Goldman Sachs Group

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director David A. Viniar sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the sale, the director now directly owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. Corporate insiders own 0.54% 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 business. Jacobi Capital Management LLC boosted its stake in shares of The Goldman Sachs Group by 1.5% during the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in The Goldman Sachs Group by 1.3% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock valued at $779,000 after purchasing an additional 24 shares during the period. Powell Investment Advisors LLC increased its position in The Goldman Sachs Group by 0.7% during the first quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after purchasing an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC raised its stake in The Goldman Sachs Group by 1.1% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock worth $944,000 after purchasing an additional 25 shares during the period. Finally, Optas LLC boosted its holdings in shares of The Goldman Sachs Group by 2.4% in the 1st quarter. Optas LLC now owns 1,072 shares of the investment management company’s stock valued at $448,000 after purchasing an additional 25 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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.