The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Citigroup Analyst Says

The Goldman Sachs Group (NYSE:GS) had its target price boosted by equities researchers at Citigroup from $485.00 to $585.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Citigroup’s target price would suggest a potential downside of 1.11% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group boosted their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays boosted their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. JMP Securities boosted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $542.00.

The Goldman Sachs Group Trading Up 1.7 %

GS traded up $9.62 during trading on Thursday, reaching $591.55. 267,275 shares of the company’s stock were exchanged, compared to its average volume of 2,212,873. The Goldman Sachs Group has a one year low of $334.87 and a one year high of $607.15. 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 stock has a market capitalization of $185.69 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The firm has a fifty day moving average price of $524.58 and a two-hundred day moving average price of $491.95.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the firm posted $5.47 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Goldman Sachs Group will post 37.15 earnings per share for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently modified their holdings of GS. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth about $26,000. Semmax Financial Advisors Inc. purchased a new stake in The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in The Goldman Sachs Group in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its stake in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Quest Partners LLC raised its stake in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Company Profile

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.