The Goldman Sachs Group (NYSE:GS) Price Target Raised to $640.00

The Goldman Sachs Group (NYSE:GS) had its target price raised by equities researchers at UBS Group from $610.00 to $640.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. UBS Group’s price target suggests a potential upside of 2.96% from the stock’s previous close.

A number of other equities analysts have also commented on GS. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Citigroup upped their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. JMP Securities boosted their target price on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Finally, HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $591.06.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded down $4.33 during mid-day trading on Tuesday, reaching $621.61. 1,917,447 shares of the company traded hands, compared to its average volume of 2,491,703. The firm has a market cap of $195.13 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.38. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group has a fifty-two week low of $374.24 and a fifty-two week high of $627.00. The stock has a fifty day simple moving average of $587.71 and a 200-day simple moving average of $531.85.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.48 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group will post 45.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $612.08, for a total value of $3,060,400.00. Following the transaction, the director now owns 608,425 shares of the company’s stock, valued at approximately $372,404,774. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,940 shares of company stock valued at $12,656,179 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Institutional Trading of The Goldman Sachs Group

Several institutional investors have recently made changes to their positions in GS. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group in the second quarter valued at about $26,000. West Branch Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the third quarter worth about $30,000. DT Investment Partners LLC boosted its position in shares of The Goldman Sachs Group by 110.0% in the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 33 shares during the period. Truvestments Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at about $34,000. Finally, Country Trust Bank purchased a new position in shares of The Goldman Sachs Group during the third quarter worth about $37,000. Institutional investors own 71.21% of the company’s stock.

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.