Morgan Stanley Increases The Goldman Sachs Group (NYSE:GS) Price Target to $1,099.00

Key Points

• Morgan Stanley raised its price target on Goldman Sachs (NYSE:GS) to $1,099 from $1,021, implying about 6.23% upside from the prior close.
• Other analysts have also adjusted views on the stock, but the overall consensus remains Hold with an average target price of $974.18; ratings currently include 9 Buys and 14 Holds.
• Goldman Sachs recently reported strong quarterly results, beating estimates with $17.55 EPS and $17.23 billion in revenue, while revenue rose 14.4% year over year.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price upped by analysts at Morgan Stanley from $1,021.00 to $1,099.00 in a report issued on Monday,MarketScreener reports. Morgan Stanley's price target would indicate a potential upside of 6.23% from the company's previous close.

A number of other equities analysts also recently issued reports on GS. Daiwa Securities Group lifted their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Weiss Ratings lowered The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 8th. BMO Capital Markets increased their price objective on shares of The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a research note on Monday, April 20th. Jefferies Financial Group reduced their target price on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating for the company in a report on Monday, April 6th. Finally, Royal Bank Of Canada reaffirmed a "neutral" rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $974.18.

The Goldman Sachs Group Price Performance

GS stock opened at $1,034.58 on Monday. The stock has a market cap of $305.21 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 1.33 and a beta of 1.30. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The company has a 50 day simple moving average of $996.38 and a 200 day simple moving average of $928.65. The Goldman Sachs Group has a 1 year low of $691.30 and a 1 year high of $1,125.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts' consensus estimates of $15.92 by $1.63. The company had revenue of $17.23 billion during the quarter, compared to analysts' expectations of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The Goldman Sachs Group's revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $14.12 EPS. Research analysts anticipate that The Goldman Sachs Group will post 59.6 EPS for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex S. Golten sold 1,116 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares in the company, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dagco Inc. purchased a new stake in The Goldman Sachs Group in the fourth quarter worth about $25,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its position in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after acquiring an additional 23 shares during the last quarter. Finally, Steph & Co. purchased a new stake in The Goldman Sachs Group in the 1st quarter worth about $27,000. 71.21% of the stock is currently owned by institutional investors.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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