The Goldman Sachs Group (NYSE:GS) Upgraded to Buy at Argus

Argus upgraded shares of The Goldman Sachs Group (NYSE:GS) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports. Argus currently has $465.00 price objective on the investment management company’s stock.

A number of other analysts have also weighed in on the stock. HSBC raised their target price on shares of The Goldman Sachs Group from $432.00 to $460.00 and gave the company a buy rating in a research report on Thursday, March 28th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a buy rating in a report on Tuesday, January 9th. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a neutral rating to an outperform rating and lifted their price target for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. BMO Capital Markets lifted 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 report on Thursday, January 18th. Finally, Morgan Stanley upgraded shares of The Goldman Sachs Group from an equal weight rating to an overweight rating and lifted their price target for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to 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

Shares of The Goldman Sachs Group stock opened at $396.51 on Tuesday. 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 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 capitalization 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 company’s 50 day moving average price is $395.32 and its two-hundred day moving average price is $365.08.

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, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same quarter last year, the business posted $8.79 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts forecast that The Goldman Sachs Group will post 32.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 23rd. The shares were 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 owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group 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 sale, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of The Goldman Sachs Group stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The disclosure for this sale can be found here. Insiders sold 35,907 shares of company stock valued at $13,950,851 over the last quarter. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First United Bank & Trust acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $26,000. Versant Capital Management Inc grew 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 valued at $28,000 after buying an additional 34 shares during the last quarter. Cambridge Trust Co. grew 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 valued at $29,000 after buying an additional 41 shares during the last quarter. Pineridge Advisors LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $29,000. Finally, Truvestments Capital LLC grew its holdings in shares of The Goldman Sachs Group by 88.0% during the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after buying an additional 44 shares during the last quarter. 71.21% of the stock is owned by 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.