The Goldman Sachs Group (NYSE:GS) PT Raised to $405.00

The Goldman Sachs Group (NYSE:GS) had its target price hoisted by equities research analysts at Royal Bank of Canada from $390.00 to $405.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the investment management company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 0.27% from the company’s previous close.

Several other research analysts have also issued reports on the company. Evercore ISI increased their price target on The Goldman Sachs Group from $418.00 to $435.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target on the stock in a report on Tuesday. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. Finally, Bank of America raised their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $434.93.

The Goldman Sachs Group Stock Up 1.8 %

Shares of The Goldman Sachs Group stock opened at $403.91 on Tuesday. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $419.20. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76. The stock’s 50-day moving average is $395.67 and its 200 day moving average is $365.35. The firm has a market cap of $131.08 billion, a price-to-earnings ratio of 15.77, a PEG 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, topping the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $8.79 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group will post 32.76 EPS for the current year.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the sale, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,907 shares of company stock worth $13,950,851. 0.57% of the stock is owned by company insiders.

Institutional Trading of The Goldman Sachs Group

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $1,903,374,000. Norges Bank bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $1,120,119,000. Morgan Stanley raised its stake in shares of The Goldman Sachs Group by 40.0% during the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after purchasing an additional 1,696,350 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of The Goldman Sachs Group by 168,772.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after purchasing an additional 1,243,852 shares during the period. Finally, Congress Wealth Management LLC DE raised its stake in shares of The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after purchasing an additional 650,918 shares during the period. 71.21% of the stock is currently 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.