The Goldman Sachs Group (NYSE:GS) Price Target Raised to $478.00

The Goldman Sachs Group (NYSE:GS) had its target price raised by equities researchers at Bank of America from $450.00 to $478.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the investment management company’s stock. Bank of America‘s price objective would indicate a potential upside of 19.28% from the stock’s previous close.

Several other brokerages also recently issued reports on GS. Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a research note on Tuesday. Barclays upped their price target on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group upped their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Evercore ISI upped their price target on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Six equities research analysts have rated the stock with a hold rating and fifteen 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 target price of $428.43.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $400.75 on Tuesday. The stock has a fifty day moving average of $395.09 and a 200-day moving average of $364.56. 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 Goldman Sachs Group has a one year low of $289.36 and a one year high of $419.20. The company has a market capitalization of $130.06 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same period in the previous year, the business earned $8.79 EPS. The company’s revenue was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that The Goldman Sachs Group will post 32.76 EPS for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at $4,357,659.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The shares were 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 of the company’s stock, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders sold 38,907 shares of company stock worth $15,080,021 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth approximately $1,903,374,000. Norges Bank acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth approximately $1,120,119,000. Morgan Stanley increased its holdings in shares of The Goldman Sachs Group by 40.0% during the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after buying an additional 1,696,350 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 168,772.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock worth $427,367,000 after buying an additional 1,243,852 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its holdings in shares of The Goldman Sachs Group by 27,076.5% during the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after buying an additional 650,918 shares in 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.