Evercore ISI Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $475.00

The Goldman Sachs Group (NYSE:GS) had its price objective upped by analysts at Evercore ISI from $440.00 to $475.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the investment management company’s stock. Evercore ISI’s price target suggests a potential upside of 1.95% from the company’s previous close.

GS has been the topic of a number of other reports. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Oppenheimer increased their price target on The Goldman Sachs Group from $479.00 to $517.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $445.62.

The Goldman Sachs Group Stock Up 0.1 %

NYSE GS traded up $0.32 during trading on Wednesday, reaching $465.93. 205,990 shares of the company’s stock were exchanged, compared to its average volume of 2,274,395. The company has a 50 day moving average price of $450.78 and a two-hundred day moving average price of $411.69. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $150.24 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $471.48.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 8.17% and a return on equity of 8.86%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $8.79 earnings per share. On average, equities research analysts anticipate that The Goldman Sachs Group will post 36.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the transaction, the director now directly owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $1,903,374,000. Norges Bank acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $1,120,119,000. Wellington Management Group LLP raised its stake in shares of The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after acquiring an additional 464,954 shares during the period. Morgan Stanley boosted its position in The Goldman Sachs Group by 7.8% during the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after purchasing an additional 412,383 shares during the period. Finally, Verity & Verity LLC increased its holdings in The Goldman Sachs Group by 26,378.2% in the 1st quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock valued at $170,000 after purchasing an additional 406,224 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.