Keefe, Bruyette & Woods Raises The Goldman Sachs Group (NYSE:GS) Price Target to $870.00

The Goldman Sachs Group (NYSE:GS) had its price target raised by analysts at Keefe, Bruyette & Woods from $850.00 to $870.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 15.89% from the company’s current price.

A number of other equities analysts have also commented on the stock. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. HSBC lifted their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $770.73.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $750.71 on Friday. The firm’s fifty day moving average price is $765.25 and its two-hundred day moving average price is $670.40. The stock has a market cap of $227.25 billion, a PE ratio of 15.25, a PEG ratio of 1.39 and a beta of 1.42. The Goldman Sachs Group has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.40 earnings per share. On average, equities analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insider Activity

In related news, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the sale, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group in the first quarter valued at about $25,000. Dogwood Wealth Management LLC boosted its stake in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in The Goldman Sachs Group in the third quarter valued at about $26,000. First PREMIER Bank purchased a new position in The Goldman Sachs Group in the third quarter valued at about $28,000. Finally, American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $29,000. 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.