The Goldman Sachs Group (NYSE:GS) Given Sector Perform Rating at Royal Bank of Canada

The Goldman Sachs Group (NYSE:GS)‘s stock had its “sector perform” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued on Monday, The Fly reports. They presently have a $435.00 price objective on the investment management company’s stock, up from their prior price objective of $370.00. Royal Bank of Canada’s target price would suggest a potential upside of 5.27% from the company’s current price.

A number of other analysts also recently weighed in on GS. JMP Securities upped their target price on The Goldman Sachs Group from $440.00 to $450.00 and gave the company a “market perform” rating in a research report on Tuesday, October 5th. Credit Suisse Group upped their price objective on The Goldman Sachs Group from $450.00 to $470.00 and gave the stock an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. set a $460.00 price objective on The Goldman Sachs Group in a research report on Monday. Barclays upped their price objective on The Goldman Sachs Group from $437.00 to $483.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Citigroup upped their price objective on The Goldman Sachs Group from $410.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Buy” and a consensus price target of $416.19.

Shares of NYSE:GS traded up $7.16 during trading on Monday, reaching $413.23. 102,241 shares of the company traded hands, compared to its average volume of 2,823,742. The company’s 50 day moving average is $399.00 and its two-hundred day moving average is $375.27. The firm has a market capitalization of $139.30 billion, a PE ratio of 7.46 and a beta of 1.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.58. The Goldman Sachs Group has a 52 week low of $185.52 and a 52 week high of $420.76.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Thursday, October 14th. The investment management company reported $14.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.78 by $5.15. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $11.61 billion. The Goldman Sachs Group had a return on equity of 23.55% and a net margin of 33.03%. The company’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company posted $9.68 EPS. As a group, research analysts anticipate that The Goldman Sachs Group will post 52.72 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in The Goldman Sachs Group by 7.3% during the second quarter. BlackRock Inc. now owns 23,048,469 shares of the investment management company’s stock worth $8,747,586,000 after acquiring an additional 1,559,063 shares in the last quarter. FMR LLC increased its position in The Goldman Sachs Group by 20.2% in the 2nd quarter. FMR LLC now owns 4,429,635 shares of the investment management company’s stock valued at $1,681,179,000 after buying an additional 744,924 shares in the last quarter. Amundi acquired a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $215,446,000. Alliancebernstein L.P. increased its holdings in shares of The Goldman Sachs Group by 13.8% during the second quarter. Alliancebernstein L.P. now owns 3,643,853 shares of the investment management company’s stock valued at $1,382,952,000 after acquiring an additional 441,659 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in The Goldman Sachs Group by 24.3% during the 2nd quarter. Bank of Montreal Can now owns 1,890,825 shares of the investment management company’s stock valued at $705,125,000 after purchasing an additional 369,300 shares in the last quarter. 70.82% of the stock is currently owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

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