The Goldman Sachs Group (NYSE:GS) Price Target Raised to $625.00

The Goldman Sachs Group (NYSE:GS) had its price target increased by research analysts at JPMorgan Chase & Co. from $605.00 to $625.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 7.60% from the company’s previous close.

Other research analysts also recently issued reports about the company. Oppenheimer downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. Barclays raised their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company restated an “overweight” rating on shares of The Goldman Sachs Group in a report on Friday, February 28th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley dropped their price objective on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $593.27.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $580.84 on Tuesday. 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 fifty-two week low of $387.12 and a fifty-two week high of $672.19. The stock has a fifty day moving average of $611.24 and a two-hundred day moving average of $569.86. The company has a market capitalization of $181.24 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the previous year, the company posted $5.48 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director Kevin R. Johnson bought 2,400 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the acquisition, the director now directly owns 2,400 shares of the company’s stock, valued at $1,485,648. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the transaction, the insider now directly owns 3,545 shares in the company, valued at $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,925 shares of company stock worth $12,630,683. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently modified their holdings of the stock. Stephens Consulting LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth about $26,000. Asset Planning Inc acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $29,000. Curio Wealth LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $30,000. Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $31,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.