The Goldman Sachs Group (NYSE:GS) PT Raised to $405.00

The Goldman Sachs Group (NYSE:GS) had its price target upped by Royal Bank of Canada from $390.00 to $405.00 in a report issued on Tuesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the investment management company’s stock.

GS has been the subject of a number of other research reports. Edward Jones started coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a buy rating for the company. BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a market perform rating in a research report on Thursday, January 18th. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a neutral rating to an outperform rating and upped their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Evercore ISI upped their price target on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Finally, Morgan Stanley raised shares of The Goldman Sachs Group from an equal weight rating to an overweight rating and increased their price objective for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $434.93.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $396.51 on Tuesday. The firm has a 50 day simple moving average of $395.32 and a 200-day simple moving average of $365.08. 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 firm 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 Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $419.20.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.79 earnings per share. On average, equities analysts expect that The Goldman Sachs Group will post 32.76 EPS for the current year.

Insider Activity

In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s 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 in the company, valued at $2,469,144.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s 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 in the company, valued at $2,469,144.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were 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 owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,907 shares of company stock worth $13,950,851. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. First United Bank & Trust bought a new position in The Goldman Sachs Group during the 4th quarter valued at $26,000. Versant Capital Management Inc raised its holdings in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after purchasing an additional 34 shares during the period. Cambridge Trust Co. raised its holdings in shares of The Goldman Sachs Group by 82.0% during the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after purchasing an additional 41 shares during the period. Pineridge Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $29,000. Finally, Truvestments Capital LLC increased its holdings in shares of The Goldman Sachs Group by 88.0% in the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after acquiring an additional 44 shares during the period. 71.21% of the stock is currently 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.