JPMorgan Chase & Co. Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by analysts at JPMorgan Chase & Co. from $550.00 to $605.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 3.48% from the company’s previous close.

Other equities analysts have also issued reports about the stock. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Oppenheimer dropped their target price on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JMP Securities boosted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, UBS Group reiterated a “neutral” rating and issued a $610.00 price target on shares of The Goldman Sachs Group in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $589.19.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $626.84 on Thursday. The Goldman Sachs Group has a 1-year low of $372.07 and a 1-year high of $627.00. The firm’s 50-day moving average price is $586.47 and its two-hundred day moving average price is $528.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $196.77 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 0.66 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.21 by $3.74. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.48 EPS. On average, equities analysts predict that The Goldman Sachs Group will post 37.24 earnings per share for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,550 shares of The Goldman Sachs Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the transaction, the chief executive officer now owns 117,883 shares in the company, valued at approximately $72,015,903.53. This trade represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,940 shares of company stock worth $12,656,179 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waddell & Associates LLC boosted its holdings in shares of The Goldman Sachs Group by 2.1% during the 3rd quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock worth $444,000 after buying an additional 18 shares during the period. Wescott Financial Advisory Group LLC lifted its position in The Goldman Sachs Group by 0.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock worth $1,346,000 after acquiring an additional 18 shares during the last quarter. Bank of New Hampshire boosted its holdings in shares of The Goldman Sachs Group by 8.0% during the fourth quarter. Bank of New Hampshire now owns 243 shares of the investment management company’s stock worth $139,000 after acquiring an additional 18 shares during the period. Marino Stram & Associates LLC grew its position in shares of The Goldman Sachs Group by 4.2% in the fourth quarter. Marino Stram & Associates LLC now owns 449 shares of the investment management company’s stock valued at $257,000 after purchasing an additional 18 shares during the last quarter. Finally, First Pacific Financial increased its stake in shares of The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock worth $1,568,000 after purchasing an additional 20 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.