The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Goldman Sachs had its target price increased from $850.00 to $870.00 by Keefe, Bruyette & Woods, suggesting a potential upside of 14.88% from its previous close.
• Other analysts like HSBC and Wells Fargo have also raised their target prices, indicating positive market sentiment towards the stock.
• The company reported $12.25 earnings per share for the last quarter, exceeding analysts' estimates of $10.27, even though revenue fell short of expectations.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price boosted by Keefe, Bruyette & Woods from $850.00 to $870.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the investment management company's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 14.88% from the company's previous close.

Several other research analysts have also recently issued reports on the stock. HSBC increased their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Wells Fargo & Company upped their target price on shares of 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. UBS Group upped their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. Royal Bank Of Canada restated a "neutral" rating and set a $843.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday. Finally, Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of "Hold" and a consensus price target of $770.73.

The Goldman Sachs Group Trading Down 1.4%

NYSE GS opened at $757.33 on Friday. The stock has a market capitalization of $229.26 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.44 and a beta of 1.42. The Goldman Sachs Group has a 52-week low of $439.38 and a 52-week high of $825.25. The firm has a 50-day moving average price of $764.67 and a 200 day moving average price of $668.27. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The firm had revenue of $11.33 billion during the quarter, compared to analysts' expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $8.40 earnings per share. Equities research analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Activity

In related news, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the company's 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 directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of large investors have recently bought and sold shares of the stock. Apollon Financial LLC purchased a new position in The Goldman Sachs Group during the third quarter worth approximately $260,000. Apollon Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 7.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 25,978 shares of the investment management company's stock valued at $20,688,000 after acquiring an additional 1,836 shares during the period. Cadinha & Co. LLC purchased a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at $15,230,000. Castle Rock Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 2.5% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 2,951 shares of the investment management company's stock valued at $2,297,000 after acquiring an additional 71 shares during the period. Finally, Carnegie Investment Counsel raised its stake in shares of The Goldman Sachs Group by 3.6% in the 3rd quarter. Carnegie Investment Counsel now owns 5,795 shares of the investment management company's stock valued at $4,615,000 after acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

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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