The Goldman Sachs Group (NYSE:GS) Price Target Raised to $1,130.00

The Goldman Sachs Group (NYSE:GS) had its price target lifted by Keefe, Bruyette & Woods from $1,050.00 to $1,130.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 1.10% from the stock’s previous close.

Other analysts have also issued research reports about the company. Citigroup raised their price target on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Morgan Stanley set a $1,145.00 price objective on shares of The Goldman Sachs Group in a research report on Wednesday. Dbs Bank raised their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Barclays reaffirmed an “overweight” rating and set a $1,245.00 target price (up from $1,048.00) on shares of The Goldman Sachs Group in a research note on Wednesday. Finally, CICC Research raised their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1,041.19.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $1,142.58 on Wednesday. The Goldman Sachs Group has a 1-year low of $691.30 and a 1-year high of $1,143.84. The firm has a market cap of $337.07 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.34 and a beta of 1.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The firm has a 50-day moving average of $1,024.94 and a 200-day moving average of $941.58.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business’s revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $10.91 EPS. Sell-side analysts expect that The Goldman Sachs Group will post 60.44 EPS for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at $5,889,079.46. This trade represents a 61.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,681 shares of company stock valued at $31,737,875 over the last 90 days. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds have recently added to or reduced their stakes in GS. Brighton Jones LLC increased its stake in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of 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 buying an additional 58 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of The Goldman Sachs Group by 90.1% during the second quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company’s stock valued at $1,098,000 after buying an additional 735 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of The Goldman Sachs Group by 9.3% during the second quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock valued at $581,000 after acquiring an additional 70 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in shares of The Goldman Sachs Group by 22.2% during the second quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock valued at $1,522,000 after acquiring an additional 391 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs crushed Q2 estimates with record revenue and earnings, driven by strong trading, investment banking, and wealth management results.
• Positive Sentiment: The company raised its quarterly dividend by 11.1% to $5.00 per share, which may appeal to income-focused investors.
• Positive Sentiment: Management’s optimistic commentary on dealmaking and AI-linked capital markets activity suggests momentum could continue. Article Title
• Neutral Sentiment: Several articles noted that Goldman Sachs also benefited from a broader rally in bank stocks and improved sentiment around the financial sector after earnings.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.