The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by Keefe, Bruyette & Woods from $570.00 to $686.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 14.01% from the stock’s previous close.

GS has been the subject of a number of other reports. JMP Securities increased their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays upped their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $557.88.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $601.71 on Tuesday. The Goldman Sachs Group has a twelve month low of $340.54 and a twelve month high of $612.73. The firm has a market cap of $188.88 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.88 and a beta of 1.38. 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 company has a 50-day moving average of $540.94 and a 200-day moving average of $499.68.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS 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 during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the business earned $5.47 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts forecast that The Goldman Sachs Group will post 37.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 in the last quarter. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mizuho Securities USA LLC grew its stake in The Goldman Sachs Group by 30,068.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the period. FMR LLC increased its holdings in shares of The Goldman Sachs Group by 21.9% during the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after acquiring an additional 521,054 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after buying an additional 438,754 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of The Goldman Sachs Group by 878.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after buying an additional 356,512 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in The Goldman Sachs Group by 154.7% during the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock valued at $205,403,000 after purchasing an additional 251,972 shares during the last quarter. 71.21% of the stock is owned by 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.