Wells Fargo & Company Raises The Goldman Sachs Group (NYSE:GS) Price Target to $785.00

The Goldman Sachs Group (NYSE:GS) had its price objective increased by equities researchers at Wells Fargo & Company from $650.00 to $785.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 12.65% from the company’s current price.

A number of other equities analysts have also commented on the stock. Daiwa America lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Royal Bank Of Canada dropped their price objective on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 15th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $630.00 to $715.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, JMP Securities dropped their price objective on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $614.00.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $696.84 on Tuesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68. The Goldman Sachs Group has a 1-year low of $437.37 and a 1-year high of $726.00. The firm has a market capitalization of $213.82 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 0.95 and a beta of 1.35. The company’s 50-day moving average is $626.30 and its 200 day moving average is $594.60.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping analysts’ consensus estimates of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. During the same period in the prior year, the company posted $11.58 EPS. Research analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insiders Place Their Bets

In related news, Director John B. Hess acquired 3,904 shares of the stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the purchase, the director owned 3,904 shares of the company’s stock, valued at approximately $1,997,598.72. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently made changes to their positions in GS. Brighton Jones LLC lifted its stake in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after buying an additional 508 shares during the period. Revolve Wealth Partners LLC lifted its position in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after purchasing an additional 58 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in The Goldman Sachs Group during the fourth quarter valued at $583,000. Highview Capital Management LLC DE lifted its position in The Goldman Sachs Group by 4.7% during the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company’s stock valued at $2,186,000 after purchasing an additional 171 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in The Goldman Sachs Group by 5.4% during the fourth quarter. Proficio Capital Partners LLC now owns 7,916 shares of the investment management company’s stock valued at $4,533,000 after purchasing an additional 404 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.