The Goldman Sachs Group (NYSE:GS) Price Target Raised to $855.00

Key Points

• Goldman Sachs Group's target price has been increased by Wells Fargo & Company from $785.00 to $855.00, indicating a potential upside of 8.57% from the previous close.
• The company reported quarterly earnings of $10.91 per share, surpassing the consensus estimate by $1.09, and its revenue increased by 14.5% year-over-year.
• Insider trading activity showed that executives, including CEO David M. Solomon, sold shares, reducing their ownership positions by approximately 5% to 8%.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price lifted by equities researchers at Wells Fargo & Company from $785.00 to $855.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the investment management company's stock. Wells Fargo & Company's target price suggests a potential upside of 8.57% from the stock's previous close.

GS has been the topic of a number of other research reports. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Citigroup upped their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. JMP Securities reiterated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, HSBC restated a "reduce" rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $665.00.

The Goldman Sachs Group Stock Performance

GS stock opened at $787.53 on Tuesday. The business's 50-day moving average price is $730.38 and its two-hundred day moving average price is $632.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm has a market cap of $238.40 billion, a PE ratio of 17.34, a P/E/G ratio of 1.64 and a beta of 1.41. The Goldman Sachs Group has a 1-year low of $439.38 and a 1-year high of $793.17.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $8.62 EPS. As a group, research 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 related news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last three months. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. Dogwood Wealth Management LLC boosted its position in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock valued at $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at about $29,000. Godsey & Gibb Inc. boosted its position in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares during the period. Finally, Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group in the 4th quarter valued at about $31,000. 71.21% of the stock is currently owned by institutional investors.

About The Goldman Sachs Group

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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