Citigroup Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $425.00

The Goldman Sachs Group (NYSE:GS) had its price objective raised by Citigroup from $410.00 to $425.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada boosted their target price on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a sector perform rating in a report on Tuesday. BMO Capital Markets raised their target price on The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a market perform rating in a research note on Thursday, January 18th. Barclays increased their price target on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an overweight rating in a report on Tuesday, January 2nd. Edward Jones started coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They set a buy rating for the company. Finally, Evercore ISI raised their price objective on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an outperform rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of Moderate Buy and an average target price of $434.93.

The Goldman Sachs Group Trading Down 1.1 %

Shares of The Goldman Sachs Group stock opened at $396.51 on Tuesday. The stock has a market cap of $128.68 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.51 and a beta of 1.43. The stock’s 50 day simple moving average is $395.32 and its 200-day simple moving average is $365.08. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $419.20. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.76 and a quick ratio of 0.76.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.79 EPS. Analysts predict that The Goldman Sachs Group will post 32.76 EPS for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 7,277 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the transaction, the insider now owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The disclosure for this sale can be found here. Insiders sold 35,907 shares of company stock worth $13,950,851 in the last three months. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently made changes to their positions in GS. Fairfield Bush & CO. purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $66,000. Candriam Luxembourg S.C.A. lifted its stake in The Goldman Sachs Group by 1,505.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after purchasing an additional 38,727 shares during the last quarter. Baird Financial Group Inc. lifted its stake in The Goldman Sachs Group by 18.5% during the first quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after purchasing an additional 18,540 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in The Goldman Sachs Group by 79.4% during the first quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock worth $273,000 after purchasing an additional 366 shares during the last quarter. Finally, Covestor Ltd lifted its stake in The Goldman Sachs Group by 118.3% during the first quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock worth $102,000 after purchasing an additional 168 shares during the last quarter. 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.