Barclays Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price target lifted by investment analysts at Barclays from $713.00 to $760.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Barclays‘s price target would suggest a potential upside of 24.14% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Oppenheimer cut their target price on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $686.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $589.19.

The Goldman Sachs Group Price Performance

Shares of GS traded up $6.27 during trading hours on Thursday, reaching $612.19. The stock had a trading volume of 1,771,899 shares, compared to its average volume of 2,314,463. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group has a 12 month low of $372.07 and a 12 month high of $616.84. The stock has a market capitalization of $192.17 billion, a PE ratio of 17.96, a PEG ratio of 0.66 and a beta of 1.38. The company’s 50-day moving average is $585.67 and its two-hundred day moving average is $527.58.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the company earned $5.48 earnings per share. Research analysts expect that The Goldman Sachs Group will post 37.24 EPS for the current year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,940 shares of company stock worth $12,656,179. Insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently bought and sold shares of GS. Quest Partners LLC increased its holdings in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after buying an additional 63 shares during the last quarter. One Capital Management LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $243,000. Moors & Cabot Inc. lifted its stake in The Goldman Sachs Group by 3.5% in the second quarter. Moors & Cabot Inc. now owns 2,637 shares of the investment management company’s stock valued at $1,193,000 after purchasing an additional 88 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in The Goldman Sachs Group by 0.5% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 7,476 shares of the investment management company’s stock valued at $3,381,000 after purchasing an additional 36 shares during the period. Finally, Wealth Alliance increased its position in The Goldman Sachs Group by 3.5% in the second quarter. Wealth Alliance now owns 1,060 shares of the investment management company’s stock worth $479,000 after buying an additional 36 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Company Profile

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.