The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

The Goldman Sachs Group (NYSE:GS) had its price objective increased by equities research analysts at Keefe, Bruyette & Woods from $686.00 to $690.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 10.08% from the stock’s previous close.

GS has been the topic of a number of other reports. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Oppenheimer dropped their price objective on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Morgan Stanley lifted their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $589.19.

The Goldman Sachs Group Stock Up 2.3 %

Shares of NYSE GS opened at $626.84 on Thursday. 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 business has a 50-day moving average of $586.47 and a 200-day moving average of $528.71. The firm has a market capitalization of $196.77 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.66 and a beta of 1.38. The Goldman Sachs Group has a 12 month low of $372.07 and a 12 month high of $627.00.

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

Insider Activity at The Goldman Sachs Group

In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the completion of the transaction, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,940 shares of company stock worth $12,656,179 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Several large investors have recently made changes to their positions in the business. Mizuho Securities USA LLC increased its position in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. FMR LLC grew its stake in shares of The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after acquiring an additional 521,054 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of The Goldman Sachs Group by 7,932.6% during the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after acquiring an additional 438,754 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of The Goldman Sachs Group by 154.7% in the 3rd quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock worth $205,403,000 after purchasing an additional 251,972 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of The Goldman Sachs Group by 829.0% in the 3rd quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock worth $128,886,000 after purchasing an additional 232,297 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, 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.