The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Barclays Analyst Says

The Goldman Sachs Group (NYSE:GS) had its price objective increased by stock analysts at Barclays from $713.00 to $760.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. Barclays‘s price objective indicates a potential upside of 21.24% from the company’s current price.

GS has been the subject of a number of other reports. Morgan Stanley upped their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $589.19.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $626.84 on Thursday. 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 firm has a market cap of $196.77 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.38. The firm’s 50 day simple moving average is $586.47 and its 200-day simple moving average is $528.71. The Goldman Sachs Group has a one year low of $372.07 and a one year high of $627.00.

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

Insider Buying and Selling

In related news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the completion of the transaction, the director now owns 608,425 shares in the company, valued at $372,404,774. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now owns 117,883 shares in the company, valued at approximately $72,015,903.53. The trade was a 5.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,940 shares of company stock worth $12,656,179 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors have recently bought and sold shares of GS. Procyon Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 43 shares during the last quarter. Brookstone Capital Management grew its position in The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after purchasing an additional 761 shares during the period. Granite Bay Wealth Management LLC purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at about $5,529,000. Franklin Street Advisors Inc. NC lifted its holdings in shares of The Goldman Sachs Group by 8.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after buying an additional 2,863 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of The Goldman Sachs Group by 30.3% in the fourth quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock worth $122,453,000 after buying an additional 49,710 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other 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.