The Goldman Sachs Group (NYSE:GS) Price Target Raised to $920.00

Key Points

• Rothschild & Co Redburn raised its price target on Goldman Sachs from $870 to $920 while keeping a neutral rating. The new target still implies a downside of about 14.7% from the prior close.
• Analysts remain mixed overall: Goldman Sachs has an average Hold rating, with a consensus price target of $960.68. Recent calls from other firms ranged from Citi’s $1,100 target to Wells Fargo’s more bullish $1,195 target.
• Goldman’s latest financial results were strong, with Q1 EPS of $17.55 beating estimates and revenue rising 14.4% year over year. The article also notes ongoing insider selling and heavy institutional ownership of the stock.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price target boosted by equities researchers at Rothschild & Co Redburn from $870.00 to $920.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has a "neutral" rating on the investment management company's stock. Rothschild & Co Redburn's target price indicates a potential downside of 14.71% from the company's previous close.

Several other research firms have also weighed in on GS. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a "neutral" rating in a research note on Tuesday. BNP Paribas Exane lowered their target price on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Weiss Ratings lowered shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a "neutral" rating in a research report on Friday, June 12th. Finally, Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the company an "overweight" rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $960.68.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $1,078.67 on Thursday. The firm's 50 day moving average price is $990.84 and its two-hundred day moving average price is $926.07. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $318.22 billion, a PE ratio of 19.78, a PEG ratio of 1.42 and a beta of 1.30. The Goldman Sachs Group has a 52-week low of $670.51 and a 52-week high of $1,125.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The firm's revenue was up 14.4% on a year-over-year basis. During the same period last year, the company earned $14.12 EPS. As a group, analysts forecast that The Goldman Sachs Group will post 59.6 EPS for the current year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 in the last quarter. 0.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GS. Vanguard Group Inc. boosted its position in The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock worth $25,503,685,000 after acquiring an additional 418,820 shares during the last quarter. State Street Corp increased its holdings in shares of The Goldman Sachs Group by 2.1% in the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company's stock valued at $17,197,444,000 after purchasing an additional 394,198 shares during the last quarter. Fisher Asset Management LLC raised its holdings in The Goldman Sachs Group by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company's stock valued at $5,952,199,000 after acquiring an additional 110,134 shares during the period. Geode Capital Management LLC raised its holdings in The Goldman Sachs Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company's stock valued at $5,896,795,000 after acquiring an additional 45,266 shares during the period. Finally, Bank of America Corp DE lifted its holdings in The Goldman Sachs Group by 8.0% during the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company's stock worth $5,460,875,000 after purchasing an additional 476,977 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs is expected to post double-digit earnings growth when it reports second-quarter results in July, reinforcing the view that its core trading and advisory businesses remain healthy. Here's What to Expect From Goldman Sachs’ Next Earnings Report
• Positive Sentiment: Goldman’s equities trading revenue is being reported as likely to exceed $5 billion again this quarter, a sign that volatility and active client trading are still driving strong fee income. Goldman Equities Haul to Rip Past $5 Billion Toward New Record
• Positive Sentiment: Wells Fargo raised its price target on Goldman Sachs to $1,195 and kept an overweight rating, signaling continued analyst confidence in the stock’s upside. Wells Fargo price target update
• Positive Sentiment: Goldman increased its dividend after passing the Federal Reserve stress test, which is generally read as a sign of balance-sheet strength and capital flexibility. Goldman Sachs Increases Dividend After Strong Fed Review

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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