Zacks Research Upgrades The Goldman Sachs Group (NYSE:GS) to “Strong-Buy”

The Goldman Sachs Group (NYSE:GS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

GS has been the topic of a number of other research reports. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a research report on Wednesday. Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays upped their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $1,061.43.

The Goldman Sachs Group Stock Down 2.7%

GS stock opened at $1,066.28 on Thursday. The firm has a market cap of $314.56 billion, a PE ratio of 16.46, a PEG ratio of 1.24 and a beta of 1.30. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.63 and a current ratio of 1.11. The firm’s 50 day moving average price is $1,035.20 and its 200-day moving average price is $945.44. The Goldman Sachs Group has a one year low of $691.88 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping the consensus estimate of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business posted $10.91 earnings per share. On average, equities research analysts anticipate that The Goldman Sachs Group will post 64.34 EPS for the current year.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the sale, the chief financial officer directly owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares in the company, valued at $14,703,018.99. This represents a 47.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 32,566 shares of company stock valued at $30,712,978. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently bought and sold shares of GS. Ballast Inc. boosted its stake in shares of The Goldman Sachs Group by 52.7% in the second quarter. Ballast Inc. now owns 965 shares of the investment management company’s stock valued at $976,000 after purchasing an additional 333 shares during the period. Regent Peak Wealth Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 7.0% in the second quarter. Regent Peak Wealth Advisors LLC now owns 838 shares of the investment management company’s stock valued at $848,000 after purchasing an additional 55 shares in the last quarter. Tema ETFs LLC increased its stake in The Goldman Sachs Group by 9.7% during the 2nd quarter. Tema ETFs LLC now owns 6,535 shares of the investment management company’s stock worth $6,609,000 after buying an additional 580 shares during the period. West Branch Capital LLC increased its stake in The Goldman Sachs Group by 9.9% during the 2nd quarter. West Branch Capital LLC now owns 1,423 shares of the investment management company’s stock worth $1,439,000 after buying an additional 128 shares during the period. Finally, Canvas Wealth Advisors LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $202,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.