The Goldman Sachs Group (NYSE:GS) Stock Rating Upgraded by Wolfe Research

The Goldman Sachs Group (NYSE:GS) was upgraded by stock analysts at Wolfe Research to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

A number of other analysts have also recently weighed in on GS. UBS Group upped their target price on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Citigroup upped their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Evercore ISI upped their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $496.44.

The Goldman Sachs Group Stock Down 1.1 %

GS stock opened at $498.28 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a fifty day simple moving average of $491.96 and a 200 day simple moving average of $454.28. The firm has a market cap of $160.68 billion, a PE ratio of 19.46, a PEG ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. Sell-side analysts anticipate that The Goldman Sachs Group will post 35.5 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors have recently bought and sold shares of GS. Anchor Investment Management LLC increased its stake in The Goldman Sachs Group by 10.0% during the 2nd quarter. Anchor Investment Management LLC now owns 3,277 shares of the investment management company’s stock worth $1,482,000 after acquiring an additional 298 shares during the period. Newbridge Financial Services Group Inc. increased its stake in The Goldman Sachs Group by 116.3% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 437 shares of the investment management company’s stock worth $198,000 after acquiring an additional 235 shares during the period. Bluefin Capital Management LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth $814,000. Lazari Capital Management Inc. increased its stake in The Goldman Sachs Group by 2.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 1,308 shares of the investment management company’s stock worth $592,000 after acquiring an additional 34 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth $15,155,000. Institutional investors 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.