The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

The Goldman Sachs Group (NYSE:GS) had its target price increased by research analysts at JPMorgan Chase & Co. from $605.00 to $625.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.60% from the stock’s current price.

Several other research firms also recently commented on GS. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Barclays lifted their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $593.27.

The Goldman Sachs Group Stock Up 0.1 %

GS stock opened at $580.84 on Tuesday. The company has a 50 day moving average of $611.24 and a two-hundred day moving average of $569.86. The company has a market cap of $181.24 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group has a 12-month low of $387.12 and a 12-month high of $672.19. 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 (NYSE:GS) last posted its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The business had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same period in the prior year, the business posted $5.48 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Insider Transactions at The Goldman Sachs Group

In other news, Treasurer Carey Halio sold 1,545 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the transaction, the treasurer now directly owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alex S. Golten sold 5,208 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares in the company, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,925 shares of company stock valued at $12,630,683. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several large investors have recently made changes to their positions in GS. Fire Capital Management LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at about $647,000. Fulcrum Equity Management raised its stake in shares of The Goldman Sachs Group by 9.5% in the fourth quarter. Fulcrum Equity Management now owns 450 shares of the investment management company’s stock valued at $258,000 after acquiring an additional 39 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Prostatis Group LLC grew its position in The Goldman Sachs Group by 2.8% during the 4th quarter. Prostatis Group LLC now owns 1,076 shares of the investment management company’s stock worth $616,000 after acquiring an additional 29 shares during the last quarter. Finally, DSG Capital Advisors LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $12,647,000. 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.