The Goldman Sachs Group (NYSE:GS) Given New $843.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for The Goldman Sachs Group from $750.00 to $843.00, suggesting a potential upside of 7.13% from the current stock price.
• Wells Fargo increased its price target to $855.00 while Zacks Research downgraded the stock from a "strong-buy" to a "hold," indicating mixed analyst sentiment regarding Goldman Sachs’ performance.
• Goldman Sachs reported earnings of $10.91 per share for the last quarter, exceeding expectations and reflecting a year-over-year revenue growth of 14.5% to $14.58 billion.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price increased by investment analysts at Royal Bank Of Canada from $750.00 to $843.00 in a report released on Wednesday,MarketScreener reports. The firm currently has a "sector perform" rating on the investment management company's stock. Royal Bank Of Canada's target price would indicate a potential upside of 7.13% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Zacks Research cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $709.13.

The Goldman Sachs Group Price Performance

Shares of GS stock traded down $9.43 during trading hours on Wednesday, reaching $786.92. The company's stock had a trading volume of 227,311 shares, compared to its average volume of 2,406,063. The firm's 50 day simple moving average is $751.18 and its 200-day simple moving average is $650.88. The company has a market capitalization of $238.22 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.67 and a beta of 1.41. The Goldman Sachs Group has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the business posted $8.62 EPS. The Goldman Sachs Group's revenue for the quarter was up 14.5% on a year-over-year basis. Sell-side analysts forecast that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its position in shares of The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $1,766,238,000. Norges Bank purchased a new position in shares of The Goldman Sachs Group in the second quarter worth approximately $2,138,031,000. Nuveen LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth approximately $897,185,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of The Goldman Sachs Group by 102.6% during the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock worth $8,065,000 after purchasing an additional 585,084 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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