Barclays Increases The Goldman Sachs Group (NYSE:GS) Price Target to $713.00

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by analysts at Barclays from $588.00 to $713.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Barclays‘s price target would indicate a potential upside of 21.05% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. UBS Group reissued a “neutral” rating and set a $610.00 price target on shares of The Goldman Sachs Group in a research note on Monday. Citigroup upped their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, JMP Securities upped their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $569.31.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $8.88 during trading on Monday, hitting $589.01. The company had a trading volume of 1,288,936 shares, compared to its average volume of 1,623,800. The stock’s 50-day moving average is $578.26 and its two-hundred day moving average is $521.69. The stock has a market capitalization of $184.90 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a 52 week low of $372.07 and a 52 week high of $612.73.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (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 company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the firm posted $5.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts predict that The Goldman Sachs Group will post 37.06 EPS for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,940 shares of company stock valued at $13,717,979 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently made changes to their positions in GS. Neville Rodie & Shaw Inc. grew its position in shares of The Goldman Sachs Group by 12.1% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 6,594 shares of the investment management company’s stock valued at $3,776,000 after acquiring an additional 710 shares during the period. Nordea Investment Management AB lifted its position in The Goldman Sachs Group by 30.3% during the fourth quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock valued at $122,453,000 after purchasing an additional 49,710 shares in the last quarter. First City Capital Management Inc. grew its holdings in The Goldman Sachs Group by 37.9% during the fourth quarter. First City Capital Management Inc. now owns 1,311 shares of the investment management company’s stock valued at $751,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC increased its position in The Goldman Sachs Group by 6.0% in the fourth quarter. GAMMA Investing LLC now owns 6,217 shares of the investment management company’s stock worth $3,560,000 after buying an additional 352 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of The Goldman Sachs Group by 104.0% in the fourth quarter. Versant Capital Management Inc now owns 561 shares of the investment management company’s stock worth $321,000 after buying an additional 286 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.