The Goldman Sachs Group (NYSE:GS) Stock Rating Upgraded by Argus

The Goldman Sachs Group (NYSE:GS) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $465.00 price target on the investment management company’s stock. Argus’ target price would indicate a potential upside of 15.12% from the company’s current price.

GS has been the topic of several other reports. UBS Group lifted their price objective on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Oppenheimer dropped their price objective on shares of The Goldman Sachs Group from $506.00 to $446.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the company an “outperform” rating in a report on Friday, April 5th. HSBC increased their price target on The Goldman Sachs Group from $432.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $434.93.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $403.91 on Tuesday. The business has a fifty day simple moving average of $395.67 and a 200-day simple moving average of $365.35. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20. The company has a market cap of $131.08 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.56 and a beta of 1.43. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the prior year, the company posted $8.79 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts forecast that The Goldman Sachs Group will post 32.76 EPS for the current year.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the sale, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The disclosure for this sale can be found here. Insiders have sold 35,907 shares of company stock worth $13,950,851 over the last ninety days. 0.57% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

A number of large investors have recently modified their holdings of the company. Capital World Investors increased its stake in shares of The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after purchasing an additional 338,181 shares during the period. Morgan Stanley grew its holdings in The Goldman Sachs Group by 40.0% in the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after buying an additional 1,696,350 shares in the last quarter. Fisher Asset Management LLC increased its position in The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock valued at $2,128,693,000 after acquiring an additional 152,474 shares during the period. Massachusetts Financial Services Co. MA raised its stake in The Goldman Sachs Group by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock valued at $2,004,153,000 after acquiring an additional 27,524 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in The Goldman Sachs Group by 5.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after acquiring an additional 274,989 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.