Barclays Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price target boosted by Barclays from $588.00 to $713.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the investment management company’s stock. Barclays‘s target price points to a potential upside of 22.91% from the company’s current price.

Other equities analysts have also issued reports about the stock. Bank of America increased their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Citigroup upped their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Finally, Evercore ISI increased their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average target price of $569.31.

The Goldman Sachs Group Stock Down 0.6 %

NYSE:GS opened at $580.10 on Monday. The company has a market cap of $182.10 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.85 and a beta of 1.38. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average price is $580.58 and its two-hundred day moving average price is $523.49. The Goldman Sachs Group has a 52-week low of $372.07 and a 52-week high of $612.73.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.47 earnings per share. On average, analysts anticipate that The Goldman Sachs Group will post 37.06 EPS for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $612.08, for a total value of $3,060,400.00. Following the completion of the transaction, the director now owns 608,425 shares of the company’s stock, valued at $372,404,774. The trade was a 0.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,940 shares of company stock worth $13,717,979. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Westwind Capital bought a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $126,000. Norway Savings Bank increased its stake in shares of The Goldman Sachs Group by 5.1% during the 4th quarter. Norway Savings Bank now owns 2,721 shares of the investment management company’s stock worth $1,558,000 after purchasing an additional 131 shares during the last quarter. Spartan Planning & Wealth Management bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $307,000. Regent Peak Wealth Advisors LLC lifted its stake in The Goldman Sachs Group by 3.7% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 680 shares of the investment management company’s stock valued at $389,000 after purchasing an additional 24 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in The Goldman Sachs Group by 0.4% during the fourth quarter. Diversified Trust Co now owns 10,189 shares of the investment management company’s stock worth $5,834,000 after purchasing an additional 42 shares during the period. 71.21% of the stock is currently 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.