Keefe, Bruyette & Woods Raises The Goldman Sachs Group (NYSE:GS) Price Target to $686.00

The Goldman Sachs Group (NYSE:GS) had its price objective raised by Keefe, Bruyette & Woods from $570.00 to $686.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 14.58% from the stock’s previous close.

Several other brokerages have also recently weighed in on GS. Bank of America raised their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Morgan Stanley lifted their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Oppenheimer lifted their price target on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group boosted their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $557.88.

The Goldman Sachs Group Stock Performance

GS opened at $598.69 on Tuesday. The business’s 50-day moving average price is $547.25 and its two-hundred day moving average price is $502.27. The Goldman Sachs Group has a 1 year low of $340.54 and a 1 year high of $612.73. The company has a market capitalization of $187.93 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.87 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 (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 EPS. Equities analysts expect that The Goldman Sachs Group will post 37.15 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,940 shares of company stock worth $13,717,979. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Procyon Advisors LLC increased its stake in The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after buying an additional 43 shares during the last quarter. Brookstone Capital Management boosted its holdings in The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after buying an additional 761 shares during the period. Granite Bay Wealth Management LLC bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $5,529,000. Wedge Capital Management L L P NC boosted its holdings in The Goldman Sachs Group by 3.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after buying an additional 2,993 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in The Goldman Sachs Group by 24.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,987 shares of the investment management company’s stock worth $6,779,000 after buying an additional 2,912 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.