The Goldman Sachs Group (NYSE:GS) Given New $720.00 Price Target at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its price target boosted by Wells Fargo & Company from $680.00 to $720.00 in a research note issued on Wednesday,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 7.23% from the company’s previous close.

Several other research analysts have also recently issued reports on GS. UBS Group increased their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Oppenheimer decreased their price target on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Citigroup increased their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $593.56.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $671.44 on Wednesday. The Goldman Sachs Group has a 1-year low of $380.85 and a 1-year high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The business’s fifty day moving average price is $608.24 and its two-hundred day moving average price is $555.16. The firm has a market capitalization of $208.45 billion, a PE ratio of 16.56, a P/E/G ratio of 0.92 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same period last year, the company earned $5.48 earnings per share. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 5,208 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total value of $4,758,905.62. Following the completion of the sale, the insider now directly owns 9,589 shares of the company’s stock, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock worth $19,692,543 in the last quarter. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds have recently bought and sold shares of the business. Swedbank AB grew its stake in shares of The Goldman Sachs Group by 4.2% in the 3rd quarter. Swedbank AB now owns 339,047 shares of the investment management company’s stock valued at $167,866,000 after buying an additional 13,730 shares in the last quarter. Ledyard National Bank bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at approximately $233,000. Foundations Investment Advisors LLC grew its stake in shares of The Goldman Sachs Group by 2.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,804 shares of the investment management company’s stock valued at $893,000 after buying an additional 38 shares in the last quarter. Eastern Bank grew its stake in shares of The Goldman Sachs Group by 14.9% in the 3rd quarter. Eastern Bank now owns 1,464 shares of the investment management company’s stock valued at $725,000 after buying an additional 190 shares in the last quarter. Finally, Saxony Capital Management LLC bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at approximately $236,000. 71.21% of the stock is 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.