The Goldman Sachs Group (NYSE:GS – Get Free Report) had its price target upped by equities research analysts at Rothschild & Co Redburn from $870.00 to $920.00 in a research note issued on Thursday,MarketScreener reports. The firm presently has a “neutral” rating on the investment management company’s stock. Rothschild & Co Redburn’s price target would indicate a potential downside of 14.71% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Bank of America lowered their price objective on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Weiss Ratings downgraded The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Finally, Morgan Stanley set a $900.00 price objective on shares of The Goldman Sachs Group in a report on Friday, June 12th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and a consensus price target of $960.68.
View Our Latest Stock Analysis on GS
The Goldman Sachs Group Stock Performance
The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The firm 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 business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the firm posted $14.12 earnings per share. On average, equities analysts expect that The Goldman Sachs Group will post 59.6 EPS for the current fiscal year.
Insider Activity at The Goldman Sachs Group
In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the transaction, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex S. Golten sold 1,116 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares in the company, valued at $2,413,472.04. This represents a 30.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 33,681 shares of company stock worth $31,737,875. Company insiders own 0.55% of the company’s stock.
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 the business. Vanguard Group Inc. raised its position in shares of The Goldman Sachs Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock valued at $25,503,685,000 after purchasing an additional 418,820 shares during the period. State Street Corp increased its holdings in The Goldman Sachs Group by 2.1% during the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after acquiring an additional 394,198 shares during the period. Fisher Asset Management LLC raised its position in shares of The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after buying an additional 110,134 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of The Goldman Sachs Group by 8.0% in the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock valued at $5,460,875,000 after acquiring an additional 476,977 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.
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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