The Goldman Sachs Group (NYSE:GS) Price Target Increased to $577.00 by Analysts at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by equities researchers at Oppenheimer from $548.00 to $577.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s price objective suggests a potential upside of 17.89% from the company’s current price.

GS has been the topic of a number of other research reports. Morgan Stanley increased their price objective on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Barclays raised their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus price target of $497.56.

The Goldman Sachs Group Price Performance

GS traded down $0.75 during trading on Wednesday, reaching $489.42. 48,927 shares of the stock were exchanged, compared to its average volume of 2,225,038. The company has a market capitalization of $157.82 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 0.78 and a beta of 1.36. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $517.26. The business’s 50 day moving average price is $492.37 and its two-hundred day moving average price is $460.46. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. As a group, equities research analysts anticipate that The Goldman Sachs Group will post 35.43 earnings per share for the current year.

Insider Buying and Selling at The Goldman Sachs Group

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

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently made changes to their positions in GS. Fisher Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock worth $2,127,944,000 after buying an additional 150,532 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock valued at $1,910,897,000 after buying an additional 274,989 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group in the first quarter worth about $1,903,374,000. Legal & General Group Plc increased its position in shares of The Goldman Sachs Group by 2.9% in the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after acquiring an additional 77,700 shares in the last quarter. Finally, Putnam Investments LLC raised its stake in The Goldman Sachs Group by 3.7% during the 4th quarter. Putnam Investments LLC now owns 2,293,691 shares of the investment management company’s stock valued at $884,837,000 after purchasing an additional 81,168 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.