Barclays Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $713.00

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by equities researchers at Barclays from $588.00 to $713.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. Barclays‘s target price would suggest a potential upside of 22.91% from the company’s current price.

Several other brokerages have also weighed in on GS. Oppenheimer cut their price objective on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. UBS Group reaffirmed a “neutral” rating and issued a $610.00 price objective on shares of The Goldman Sachs Group in a research note on Monday. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley raised their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $569.31.

The Goldman Sachs Group Stock Down 0.6 %

GS stock opened at $580.10 on Monday. The company has a 50 day moving average of $580.58 and a two-hundred day moving average of $523.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a 12-month low of $372.07 and a 12-month high of $612.73. The company has a market cap of $182.10 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.85 and a beta of 1.38.

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

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 608,425 shares in the company, valued at approximately $372,404,774. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,940 shares of company stock worth $13,717,979. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its position in The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after acquiring an additional 161,133 shares in the last quarter. FMR LLC grew its position in The Goldman Sachs Group by 21.9% during the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after acquiring an additional 521,054 shares during the last quarter. Legal & General Group Plc increased its holdings in The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in The Goldman Sachs Group by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after purchasing an additional 68,141 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

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.