HSBC Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $470.00

The Goldman Sachs Group (NYSE:GS) had its target price increased by investment analysts at HSBC from $460.00 to $470.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the investment management company’s stock. HSBC’s target price suggests a potential upside of 17.72% from the company’s current price.

A number of other brokerages have also weighed in on GS. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup upped their price objective on The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Royal Bank of Canada upped their price objective on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Oppenheimer upped their price objective on The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.93.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded down $1.64 during trading on Tuesday, reaching $399.24. 1,659,759 shares of the stock traded hands, compared to its average volume of 2,311,104. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $419.20. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.76 and a quick ratio of 0.76. The company has a 50-day moving average of $395.09 and a 200-day moving average of $364.56. The stock has a market capitalization of $129.57 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The firm had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same quarter in the prior year, the firm earned $8.79 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts forecast that The Goldman Sachs Group will post 32.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders sold a total of 38,907 shares of company stock worth $15,080,021 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Hedge funds have recently bought and sold shares of the business. Capital World Investors increased its holdings in The Goldman Sachs Group by 6.0% in the 4th quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after purchasing an additional 338,181 shares during the last quarter. Morgan Stanley lifted its position in shares of The Goldman Sachs Group by 40.0% during the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after purchasing an additional 1,696,350 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock worth $2,128,693,000 after purchasing an additional 152,474 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The Goldman Sachs Group by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock worth $2,004,153,000 after purchasing an additional 27,524 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of The Goldman Sachs Group by 5.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after purchasing an additional 274,989 shares during 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.