The Goldman Sachs Group (NYSE:GS) Price Target Raised to $360.00 at BMO Capital Markets

The Goldman Sachs Group (NYSE:GS) had its price objective raised by BMO Capital Markets from $349.00 to $360.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

Several other research firms also recently weighed in on GS. Bank of America boosted their target price on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a buy rating in a research report on Tuesday. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a market outperform rating in a report on Tuesday, April 9th. Morgan Stanley upgraded The Goldman Sachs Group from an equal weight rating to an overweight rating and raised their target price for the stock from $333.00 to $449.00 in a research note on Tuesday, January 30th. Barclays lifted their price target on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an overweight rating in a research report on Tuesday, January 2nd. Finally, Edward Jones started coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They issued a buy rating on the stock. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $434.93.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $396.51 on Tuesday. The company has a market capitalization 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 has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50-day simple moving average of $395.32 and a two-hundred day simple moving average of $365.08. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $419.20.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion during 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 firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $8.79 earnings per share. Research analysts expect that The Goldman Sachs Group will post 32.76 EPS for the current fiscal year.

Insider Transactions at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,469,144.81. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at approximately $4,357,659.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the stock in a transaction on 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 directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock valued at $13,950,851 in the last three months. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GS. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at $1,903,374,000. Norges Bank acquired a new position in The Goldman Sachs Group in the 4th quarter valued at $1,120,119,000. Morgan Stanley raised its stake in 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 purchasing an additional 1,696,350 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in The Goldman Sachs Group by 168,772.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after purchasing an additional 1,243,852 shares during the last quarter. Finally, Congress Wealth Management LLC DE raised its stake in The Goldman Sachs Group by 27,076.5% in the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after purchasing an additional 650,918 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

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.