The Goldman Sachs Group (NYSE:GS) Price Target Raised to $425.00 at Citigroup

The Goldman Sachs Group (NYSE:GS) had its target price upped by equities researchers at Citigroup from $410.00 to $425.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the investment management company’s stock. Citigroup’s target price would indicate a potential upside of 6.62% from the company’s current price.

Several other brokerages also recently weighed in on GS. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays raised their target price on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Bank of America increased their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, HSBC upped their price objective on shares of The Goldman Sachs Group from $432.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $434.38.

The Goldman Sachs Group Price Performance

GS traded down $2.28 on Tuesday, hitting $398.60. 916,820 shares of the company were exchanged, compared to its average volume of 2,300,870. The business’s fifty day moving average is $395.09 and its 200 day moving average is $364.56. The Goldman Sachs Group has a fifty-two week low of $289.36 and a fifty-two week high of $419.20. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $129.36 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, April 16th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04. The firm had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The Goldman Sachs Group’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the business posted $8.79 EPS. As a group, sell-side analysts anticipate that The Goldman Sachs Group will post 32.76 EPS for the current year.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,000 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the transaction, the insider now directly owns 10,121 shares in the company, valued at $3,809,443.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the transaction, the insider now owns 10,121 shares in the company, valued at $3,809,443.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders sold 38,907 shares of company stock valued at $15,080,021 in the last quarter. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently made changes to their positions in the business. First United Bank & Trust acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $26,000. Versant Capital Management Inc increased its position in shares of The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares during the last quarter. Cambridge Trust Co. raised its holdings in The Goldman Sachs Group by 82.0% during the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after acquiring an additional 41 shares in the last quarter. Pineridge Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $29,000. Finally, Truvestments Capital LLC grew its stake in The Goldman Sachs Group by 88.0% in the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 44 shares in the last quarter. 71.21% of the stock is 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.