The Goldman Sachs Group (NYSE:GS) PT Raised to $577.00 at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its target price increased by equities research analysts at Oppenheimer from $548.00 to $577.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s target price would suggest a potential upside of 17.89% from the company’s current price.

Several other research analysts also recently weighed in on GS. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Barclays boosted their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.56.

The Goldman Sachs Group Stock Down 0.2 %

Shares of GS stock traded down $0.75 on Wednesday, hitting $489.42. The stock had a trading volume of 48,927 shares, compared to its average volume of 2,225,038. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $517.26. The business has a 50 day moving average price of $492.37 and a 200 day moving average price of $460.46. The company has a market cap of $157.82 billion, a PE ratio of 19.24, a P/E/G ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Research analysts anticipate that The Goldman Sachs Group will post 35.43 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors have recently added to or reduced their stakes in GS. Empowered Funds LLC grew its holdings in shares of The Goldman Sachs Group by 62.7% during the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares during the last quarter. Duality Advisers LP purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,388,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of The Goldman Sachs Group by 34.2% during 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 period. Axxcess Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 25.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after buying an additional 2,442 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $1,357,000. Hedge funds and other institutional investors 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.