Oppenheimer Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $639.00

The Goldman Sachs Group (NYSE:GS) had its price target decreased by stock analysts at Oppenheimer from $677.00 to $639.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s price target indicates a potential upside of 10.85% from the stock’s previous close.

Several other research firms have also commented on GS. Barclays increased their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. UBS Group increased their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their price objective for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $558.38.

The Goldman Sachs Group Stock Performance

GS traded up $1.46 during midday trading on Friday, reaching $576.43. The company had a trading volume of 360,654 shares, compared to its average volume of 1,272,935. The business has a 50-day moving average of $576.91 and a two-hundred day moving average of $519.89. The company has a market cap of $180.95 billion, a P/E ratio of 16.91, a P/E/G ratio of 0.85 and a beta of 1.38. The Goldman Sachs Group has a 1 year low of $372.07 and a 1 year high of $612.73. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the company posted $5.47 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts predict that The Goldman Sachs Group will post 37.06 earnings per share for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $612.08, for a total value of $3,060,400.00. Following the sale, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. This represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,940 shares of company stock worth $13,717,979. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently bought and sold shares of the business. Mizuho Securities USA LLC grew its stake in shares of The Goldman Sachs Group by 30,068.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after buying an additional 7,475,140 shares during the period. Fisher Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after acquiring an additional 161,133 shares in the last quarter. FMR LLC lifted its position in The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after acquiring an additional 521,054 shares during the last quarter. Legal & General Group Plc boosted its stake in The Goldman Sachs Group by 2.9% in the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after acquiring an additional 77,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of The Goldman Sachs Group by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after acquiring an additional 68,141 shares during the period. 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.