The Goldman Sachs Group (NYSE:GS) PT Raised to $478.00

The Goldman Sachs Group (NYSE:GS) had its price objective upped by Bank of America from $450.00 to $478.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Bank of America currently has a buy rating on the investment management company’s stock.

Several other equities analysts have also commented on GS. Argus upgraded 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 note on Tuesday. Daiwa Capital Markets upgraded The Goldman Sachs Group from a neutral rating to an outperform rating and raised their price target for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $445.00 to $485.00 and gave the company an outperform rating in a research note on Friday, April 5th. Oppenheimer cut their price target on The Goldman Sachs Group from $506.00 to $446.00 and set an outperform rating on the stock in a research note on Tuesday, March 19th. Finally, UBS Group raised their price target on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a buy rating in a research note on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $434.93.

The Goldman Sachs Group Stock Performance

GS stock opened at $396.51 on Tuesday. 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 business’s fifty day simple moving average is $395.32 and its two-hundred day simple moving average is $365.08. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $419.20. The firm has a market cap of $128.68 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.51 and a beta of 1.43.

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

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the firm’s 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 sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the firm’s 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 sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was 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 approximately $4,357,659.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,907 shares of company stock valued at $13,950,851. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Capital World Investors raised its stake in shares of The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after purchasing an additional 338,181 shares during the last quarter. Morgan Stanley raised its position in The Goldman Sachs Group by 40.0% during the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after acquiring an additional 1,696,350 shares in the last quarter. Fisher Asset Management LLC raised its position in The Goldman Sachs Group by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock valued at $2,128,693,000 after acquiring an additional 152,474 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in The Goldman Sachs Group by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock valued at $2,004,153,000 after acquiring an additional 27,524 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock valued at $1,910,897,000 after acquiring an additional 274,989 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

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.