The Goldman Sachs Group (NYSE:GS) PT Raised to $535.00 at UBS Group

The Goldman Sachs Group (NYSE:GS) had its price target upped by UBS Group from $490.00 to $535.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the investment management company’s stock. UBS Group’s price objective indicates a potential upside of 11.73% from the stock’s current price.

Several other brokerages also recently weighed in on GS. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research note on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Morgan Stanley reduced their price objective on The Goldman Sachs Group from $486.00 to $475.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Evercore ISI lifted their price target on The Goldman Sachs Group from $440.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $450.62.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $478.84 on Tuesday. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $479.86. The stock’s 50-day moving average is $456.87 and its 200 day moving average is $415.84. The company has a market cap of $154.41 billion, a P/E ratio of 18.70, a PEG ratio of 0.94 and a beta of 1.37. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $8.79 earnings per share. Research analysts predict that The Goldman Sachs Group will post 36.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the transaction, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares in the company, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently modified their holdings of the company. First Personal Financial Services purchased a new stake in The Goldman Sachs Group during the 1st quarter worth about $25,000. First United Bank & Trust purchased a new stake in The Goldman Sachs Group during the 4th quarter worth about $26,000. Versant Capital Management Inc increased its holdings in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after purchasing an additional 34 shares during the period. Pineridge Advisors LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter worth about $29,000. Finally, BKM Wealth Management LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter worth about $32,000. 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.