Bank of America Increases The Goldman Sachs Group (NYSE:GS) Price Target to $478.00

The Goldman Sachs Group (NYSE:GS) had its price objective increased by research analysts at Bank of America from $450.00 to $478.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the investment management company’s stock. Bank of America‘s target price would suggest a potential upside of 18.34% from the company’s current price.

Several other brokerages have also recently commented on GS. Barclays raised their price objective on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Edward Jones assumed coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. BMO Capital Markets lifted their price objective on 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. UBS Group upped their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $421.00 to $424.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $434.93.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $403.91 on Tuesday. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $419.20. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The stock’s 50-day moving average price is $395.67 and its 200 day moving average price is $365.35. The stock has a market capitalization of $131.08 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The Goldman Sachs Group’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.79 EPS. As a group, equities research analysts forecast that The Goldman Sachs Group will post 32.76 EPS for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were 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 in the company, valued at $4,357,659.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Sheara J. Fredman sold 4,300 shares of The Goldman Sachs Group stock in a transaction on 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 transaction, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The disclosure for this sale can be found here. Insiders sold 35,907 shares of company stock worth $13,950,851 in the last 90 days. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its stake 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 in the last quarter. First United Bank & Trust purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Pineridge Advisors LLC acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $32,000. Finally, Cambridge Trust Co. lifted its position 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 in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.