The Goldman Sachs Group (NYSE:GS) Upgraded at Zacks Research

The Goldman Sachs Group (NYSE:GS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. HSBC upped their target price on shares of The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Dbs Bank boosted their price target on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. CICC Research increased their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1,061.43.

The Goldman Sachs Group Trading Down 2.7%

GS opened at $1,066.28 on Thursday. The business has a fifty day moving average price of $1,035.20 and a 200 day moving average price of $945.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The Goldman Sachs Group has a 12 month low of $691.88 and a 12 month high of $1,153.99. The stock has a market capitalization of $314.56 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.24 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The Goldman Sachs Group’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the company earned $10.91 EPS. Sell-side analysts expect that The Goldman Sachs Group will post 64.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares in the company, valued at $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,566 shares of company stock worth $30,712,978 in the last three months. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $2,515,830,000. Corient Private Wealth LLC lifted its position in The Goldman Sachs Group by 1,657.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after acquiring an additional 2,448,767 shares during the period. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $2,024,921,000. Bank of America Corp DE grew its stake in shares of The Goldman Sachs Group by 8.0% in the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock valued at $5,460,875,000 after purchasing an additional 476,977 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

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.