HSBC Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $470.00

The Goldman Sachs Group (NYSE:GS) had its price target upped by equities research analysts at HSBC from $460.00 to $470.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the investment management company’s stock. HSBC’s price objective suggests a potential upside of 17.72% from the company’s current price.

GS has been the topic of several other reports. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $333.00 to $449.00 in a report on Tuesday, January 30th. BMO Capital Markets upped their target price on The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a report on Tuesday. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday. Finally, Bank of America upped their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Trading Down 0.4 %

Shares of NYSE:GS traded down $1.64 during midday trading on Tuesday, hitting $399.24. 1,659,759 shares of the stock were exchanged, compared to its average volume of 2,311,104. The stock has a market capitalization of $129.57 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.51 and a beta of 1.43. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50-day moving average price is $395.09 and its 200 day moving average price is $364.56. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $419.20.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $8.79 earnings per share. Analysts predict that The Goldman Sachs Group will post 32.76 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 3,000 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares of the company’s stock, valued at approximately $3,809,443.19. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the transaction, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,907 shares of company stock valued at $15,080,021. 0.57% of the stock is owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc increased its stake in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares during the period. First United Bank & Trust purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $26,000. Pineridge Advisors LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $29,000. BKM Wealth Management LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $32,000. Finally, Cambridge Trust Co. grew its stake in The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after purchasing an additional 41 shares during the period. 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.