The Goldman Sachs Group (NYSE:GS) Price Target Raised to $700.00 at Citigroup

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price target hoisted by investment analysts at Citigroup from $550.00 to $700.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the investment management company's stock. Citigroup's price objective would indicate a potential downside of 0.89% from the company's previous close.

A number of other research firms have also issued reports on GS. Daiwa America lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Barclays decreased their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Performance

NYSE:GS traded down $1.97 during trading hours on Monday, reaching $706.29. 2,002,712 shares of the company's stock were exchanged, compared to its average volume of 2,364,878. The firm has a market capitalization of $216.72 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 0.94 and a beta of 1.35. The company has a 50-day moving average of $647.01 and a 200 day moving average of $601.27. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26. The Goldman Sachs Group has a 1-year low of $437.37 and a 1-year high of $726.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results 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 firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm posted $8.62 EPS. Research analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current year.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its holdings in shares of The Goldman Sachs Group by 617,504.5% during 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 acquiring an additional 29,053,586 shares during the period. GAMMA Investing LLC boosted its stake in shares of The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after buying an additional 3,970,467 shares during the last quarter. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $1,766,238,000. Norges Bank bought a new stake in The Goldman Sachs Group during the fourth quarter valued at about $1,603,315,000. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $944,334,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.