HSBC Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

The Goldman Sachs Group (NYSE:GSGet Free Report) had its price target hoisted by analysts at HSBC from $742.00 to $802.00 in a report issued on Friday,MarketScreener reports. HSBC’s price objective would indicate a potential downside of 13.71% from the company’s current price.

Several other research analysts also recently weighed in on GS. BMO Capital Markets upped their target price on The Goldman Sachs Group from $980.00 to $985.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. UBS Group restated a “neutral” rating and set a $990.00 price objective on shares of The Goldman Sachs Group in a research report on Wednesday. Autonomous Res dropped their target price on shares of The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Zacks Research upgraded shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Wells Fargo & Company raised their price target on shares of The Goldman Sachs Group from $970.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $916.86.

Read Our Latest Stock Analysis on The Goldman Sachs Group

The Goldman Sachs Group Trading Up 4.4%

Shares of The Goldman Sachs Group stock opened at $929.47 on Friday. The firm has a 50-day simple moving average of $909.26 and a two-hundred day simple moving average of $816.74. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.65 and a current ratio of 1.13. The Goldman Sachs Group has a fifty-two week low of $439.38 and a fifty-two week high of $984.70. The company has a market cap of $278.78 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.14 and a beta of 1.34.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, beating the consensus estimate of $11.52 by $2.03. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The Goldman Sachs Group’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $11.95 EPS. As a group, equities analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Treasurer Carey Halio sold 2,846 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $927.17, for a total transaction of $2,638,725.82. Following the transaction, the treasurer owned 2,017 shares in the company, valued at approximately $1,870,101.89. This trade represents a 58.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 4,863 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $923.75, for a total value of $4,492,196.25. Following the completion of the sale, the chief accounting officer owned 10,301 shares of the company’s stock, valued at approximately $9,515,548.75. The trade was a 32.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 87,513 shares of company stock valued at $83,718,401. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dagco Inc. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in The Goldman Sachs Group in the third quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its stake in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after acquiring an additional 23 shares during the last quarter. First PREMIER Bank purchased a new stake in The Goldman Sachs Group in the third quarter valued at $28,000. Finally, Corundum Trust Company INC acquired a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at $29,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting The Goldman Sachs Group

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The Goldman Sachs Group Company Profile

(Get Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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