The Goldman Sachs Group (NYSE:GS) Given New $560.00 Price Target at UBS Group

The Goldman Sachs Group (NYSE:GS) had its price target increased by research analysts at UBS Group from $550.00 to $560.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the investment management company’s stock. UBS Group’s price objective would suggest a potential upside of 12.96% from the stock’s current price.

GS has been the topic of several other reports. BMO Capital Markets lifted their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Barclays lifted their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI boosted their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Finally, Oppenheimer boosted their price target on The Goldman Sachs Group from $548.00 to $577.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $499.13.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded up $1.14 during midday trading on Tuesday, reaching $495.76. 517,180 shares of the company were exchanged, compared to its average volume of 2,210,469. The company has a market capitalization of $159.86 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 0.78 and a beta of 1.36. The firm’s 50-day simple moving average is $492.33 and its 200-day simple moving average is $463.18. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, analysts anticipate that The Goldman Sachs Group will post 35.43 EPS for the current year.

Insider Activity

In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Waldron Private Wealth LLC raised its position in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares during the last quarter. Fulton Bank N.A. raised its stake in shares of The Goldman Sachs Group by 0.8% during the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock valued at $1,233,000 after buying an additional 22 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its holdings in shares of The Goldman Sachs Group by 1.1% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock valued at $893,000 after buying an additional 22 shares during the period. Jacobi Capital Management LLC grew its holdings in The Goldman Sachs Group by 1.5% during the first quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after acquiring an additional 23 shares during the period. Finally, Mayflower Financial Advisors LLC raised its position in The Goldman Sachs Group by 1.2% during the second quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock valued at $913,000 after acquiring an additional 23 shares in the last quarter. 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.