The Goldman Sachs Group (NYSE:GS) Price Target Raised to $955.00 at JPMorgan Chase & Co.

The Goldman Sachs Group (NYSE:GS) had its price target raised by stock analysts at JPMorgan Chase & Co. from $900.00 to $955.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 16.42% from the company’s current price.

Several other research firms also recently commented on GS. Daiwa Securities Group lifted their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Dbs Bank raised their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. BNP Paribas Exane reduced their target price on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, BMO Capital Markets boosted their price target on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the company a “market perform” rating in a report on Monday, June 29th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1,043.81.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $1,142.58 on Wednesday. The Goldman Sachs Group has a fifty-two week low of $691.30 and a fifty-two week high of $1,143.84. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $337.07 billion, a PE ratio of 20.88, a P/E/G ratio of 1.34 and a beta of 1.30. The business has a 50-day simple moving average of $1,024.94 and a two-hundred day simple moving average of $941.58.

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

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,681 shares of company stock worth $31,737,875 over the last three months. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in The Goldman Sachs Group during the fourth quarter worth about $2,515,830,000. Corient Private Wealth LLC lifted its holdings in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after acquiring an additional 2,448,767 shares during the last quarter. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group in the first quarter worth approximately $2,024,921,000. Bank of America Corp DE increased its stake in The Goldman Sachs Group by 8.0% during the first quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock worth $5,460,875,000 after acquiring an additional 476,977 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in The Goldman Sachs Group by 428.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock valued at $488,947,000 after purchasing an additional 450,984 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Trending Headlines about 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.

The Goldman Sachs Group Company Profile

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.