The Goldman Sachs Group (NYSE:GS) Given New $1,130.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on Goldman Sachs to $1,130 from $1,050, while keeping a market perform rating. The new target still implies slight downside from the previous close.
• Goldman Sachs reported better-than-expected Q2 results, posting $20.98 EPS versus the $14.47 estimate and revenue of $20.34 billion versus $16.22 billion expected. Revenue rose 39.4% year over year.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average target price of about $1,041. Insider selling was also notable, with executives selling shares over the past 90 days.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $1,050.00 to $1,130.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "market perform" rating on the investment management company's stock. Keefe, Bruyette & Woods' target price points to a potential downside of 1.10% from the company's previous close.

Other equities analysts also recently issued reports about the company. UBS Group boosted their price objective on The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. Royal Bank Of Canada reaffirmed a "neutral" rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an "overweight" rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the company a "neutral" rating in a report on Friday, June 12th. Finally, BNP Paribas Exane decreased their price objective on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus target price of $1,041.19.

The Goldman Sachs Group Stock Up 9.2%

Shares of NYSE GS opened at $1,142.58 on Wednesday. The stock has a market cap of $337.07 billion, a P/E ratio of 20.88, a PEG ratio of 1.34 and a beta of 1.30. The business's fifty day simple moving average is $1,024.94 and its 200-day simple moving average is $941.58. The Goldman Sachs Group has a 12-month low of $691.30 and a 12-month high of $1,143.84. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The firm had revenue of $20.34 billion during the quarter, compared to analysts' expectations of $16.22 billion. During the same period in the previous year, the firm posted $10.91 EPS. The Goldman Sachs Group's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities analysts predict that The Goldman Sachs Group will post 60.44 EPS for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the 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 transaction, the insider owned 15,657 shares of the company's stock, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the sale, the chief financial officer directly owned 31,070 shares in the company, valued at $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,681 shares of company stock valued at $31,737,875 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Acropolis Investment Management LLC boosted its holdings in The Goldman Sachs Group by 1.8% during the 4th quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company's stock valued at $554,000 after acquiring an additional 11 shares during the period. Walkner Condon Financial Advisors LLC increased its stake in The Goldman Sachs Group by 2.0% in the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company's stock worth $505,000 after purchasing an additional 11 shares during the period. Optas LLC increased its stake in The Goldman Sachs Group by 0.4% in the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company's stock worth $2,244,000 after purchasing an additional 11 shares during the period. Pines Wealth Management LLC lifted its position in The Goldman Sachs Group by 0.4% in the fourth quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company's stock valued at $2,255,000 after purchasing an additional 11 shares during the last quarter. Finally, Welch & Forbes LLC boosted its stake in shares of The Goldman Sachs Group by 0.8% during the fourth quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company's stock valued at $1,257,000 after purchasing an additional 11 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs crushed Q2 estimates with record revenue and earnings, driven by strong trading, investment banking, and wealth management results.
• Positive Sentiment: The company raised its quarterly dividend by 11.1% to $5.00 per share, which may appeal to income-focused investors.
• Positive Sentiment: Management’s optimistic commentary on dealmaking and AI-linked capital markets activity suggests momentum could continue. Article Title
• Neutral Sentiment: Several articles noted that Goldman Sachs also benefited from a broader rally in bank stocks and improved sentiment around the financial sector after earnings.

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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