HSBC Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $470.00

The Goldman Sachs Group (NYSE:GS) had its target price lifted by HSBC from $460.00 to $470.00 in a report released on Tuesday, Benzinga reports. HSBC currently has a buy rating on the investment management company’s stock.

A number of other analysts also recently commented on GS. JMP Securities boosted their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a market outperform rating in a research report on Tuesday, April 9th. Edward Jones started coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They set a buy rating on the stock. Keefe, Bruyette & Woods boosted their price target on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Argus upgraded shares of The Goldman Sachs Group from a hold rating to a buy rating and set a $465.00 price target on the stock in a research report on Tuesday. Finally, BMO Capital Markets boosted their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a market perform rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $434.93.

The Goldman Sachs Group Trading Down 1.1 %

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

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

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders have sold a total of 35,907 shares of company stock valued at $13,950,851 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several large investors have recently modified their holdings of GS. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,903,374,000. Norges Bank acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $1,120,119,000. Morgan Stanley raised its stake in shares of The Goldman Sachs Group by 40.0% in the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after buying an additional 1,696,350 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of The Goldman Sachs Group by 168,772.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock worth $427,367,000 after purchasing an additional 1,243,852 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its position in shares of The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after purchasing an additional 650,918 shares in the last quarter. 71.21% of the stock is 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.