The Goldman Sachs Group (NYSE:GS) Price Target Increased to $550.00 by Analysts at JMP Securities

The Goldman Sachs Group (NYSE:GS) had its target price raised by JMP Securities from $525.00 to $550.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “market outperform” rating on the investment management company’s stock. JMP Securities’ price target would suggest a potential upside of 10.76% from the company’s previous close.

A number of other equities analysts have also weighed in on GS. UBS Group boosted their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Citigroup upped their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $504.75.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $496.57 on Wednesday. The Goldman Sachs Group has a fifty-two week low of $289.36 and a fifty-two week high of $517.26. The business has a 50-day simple moving average of $492.33 and a two-hundred day simple moving average of $463.18. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $160.13 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. On average, analysts expect that The Goldman Sachs Group will post 35.43 earnings per share for the current year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GS. Empowered Funds LLC lifted its position in The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after buying an additional 2,428 shares during the last quarter. Duality Advisers LP bought a new stake in The Goldman Sachs Group in the first quarter worth $1,388,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after buying an additional 2,103 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in The Goldman Sachs Group by 25.5% in the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after buying an additional 2,442 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in The Goldman Sachs Group in the first quarter worth $1,357,000. 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.