The Goldman Sachs Group (NYSE:GS) Price Target Increased to $478.00 by Analysts at Bank of America

The Goldman Sachs Group (NYSE:GS) had its target price upped by equities research analysts at Bank of America from $450.00 to $478.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the investment management company’s stock. Bank of America‘s price target points to a potential upside of 19.28% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $390.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $421.00 to $424.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Edward Jones began coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research note on Tuesday. Finally, BMO Capital Markets raised their price objective on The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $428.43.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $400.75 on Tuesday. The stock’s fifty day moving average is $395.09 and its two-hundred day moving average is $364.56. The company has a market capitalization of $130.06 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.29. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The Goldman Sachs Group’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.79 EPS. As a group, analysts expect that The Goldman Sachs Group will post 32.76 earnings per share for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the sale, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Insiders have sold 38,907 shares of company stock worth $15,080,021 over the last quarter. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently modified their holdings of GS. Fairfield Bush & CO. acquired a new position in The Goldman Sachs Group during the 1st quarter worth $66,000. Candriam Luxembourg S.C.A. grew its stake in The Goldman Sachs Group by 1,505.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after purchasing an additional 38,727 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of The Goldman Sachs Group by 18.5% during the 1st quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after acquiring an additional 18,540 shares in the last quarter. Zions Bancorporation N.A. boosted its position in shares of The Goldman Sachs Group by 79.4% during the 1st quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock worth $273,000 after acquiring an additional 366 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of The Goldman Sachs Group by 118.3% during the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock worth $102,000 after acquiring an additional 168 shares in the last quarter. 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.