HSBC Increases The Goldman Sachs Group (NYSE:GS) Price Target to $470.00

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price target raised by research analysts at HSBC from $460.00 to $470.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the investment management company's stock. HSBC's price objective indicates a potential upside of 18.53% from the stock's previous close.

Several other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $424.00 to $433.00 and gave the company an "overweight" rating in a research report on Tuesday. Oppenheimer raised their target price on shares of The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an "outperform" rating in a research note on Tuesday. Morgan Stanley upgraded shares of The Goldman Sachs Group from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Edward Jones initiated coverage on shares of The Goldman Sachs Group in a report on Tuesday, February 27th. They issued a "buy" rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an "outperform" rating in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Moderate Buy" and an average price target of $434.93.

The Goldman Sachs Group Stock Performance

Shares of GS stock traded down $4.37 on Tuesday, reaching $396.51. The stock had a trading volume of 3,459,210 shares, compared to its average volume of 2,335,887. The stock has a market cap of $128.68 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day simple moving average of $395.09 and a 200 day simple moving average of $364.56. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $419.20.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The firm had revenue of $14.21 billion for the quarter, compared to analysts' expectations of $12.94 billion. During the same period in the previous year, the firm posted $8.79 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. Equities research analysts expect that The Goldman Sachs Group will post 32.76 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 12,680 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company's stock, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the sale, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares of the company's stock, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,907 shares of company stock worth $15,080,021. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake 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 acquiring an additional 34 shares during the last quarter. First United Bank & Trust bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Pineridge Advisors LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $32,000. Finally, Cambridge Trust Co. lifted its stake in The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company's stock valued at $29,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds 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.