The Goldman Sachs Group (NYSE:GS) Price Target Cut to $639.00 by Analysts at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its price objective dropped by research analysts at Oppenheimer from $677.00 to $639.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s target price suggests a potential upside of 10.85% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. JMP Securities upped their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. UBS Group increased their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $558.38.

The Goldman Sachs Group Trading Up 0.3 %

Shares of NYSE GS traded up $1.46 on Friday, reaching $576.43. 360,654 shares of the company traded hands, compared to its average volume of 1,272,935. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a fifty-two week low of $372.07 and a fifty-two week high of $612.73. The stock has a market capitalization of $180.95 billion, a PE ratio of 16.91, a P/E/G ratio of 0.85 and a beta of 1.38. The company has a 50 day moving average of $576.91 and a 200 day moving average of $519.89.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the business posted $5.47 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that The Goldman Sachs Group will post 37.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the sale, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock valued at $13,717,979 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Waddell & Associates LLC raised its holdings in The Goldman Sachs Group by 2.1% in the third quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock valued at $444,000 after buying an additional 18 shares during the period. Wescott Financial Advisory Group LLC raised its stake in shares of The Goldman Sachs Group by 0.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock valued at $1,346,000 after purchasing an additional 18 shares during the period. First Pacific Financial lifted its holdings in The Goldman Sachs Group by 0.6% in the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock worth $1,568,000 after buying an additional 20 shares in the last quarter. Krane Funds Advisors LLC increased its position in shares of The Goldman Sachs Group by 1.7% during the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock worth $583,000 after acquiring an additional 20 shares during the last quarter. Finally, Tanager Wealth Management LLP boosted its holdings in The Goldman Sachs Group by 3.6% in the third quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors 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.