Barclays Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $713.00

The Goldman Sachs Group (NYSE:GS) had its target price upped by stock analysts at Barclays from $588.00 to $713.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. Barclays‘s target price suggests a potential upside of 21.05% from the company’s previous close.

GS has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. JMP Securities boosted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. UBS Group reissued a “neutral” rating and issued a $610.00 price target on shares of The Goldman Sachs Group in a research note on Monday. Finally, Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $569.31.

The Goldman Sachs Group Price Performance

Shares of GS traded up $8.88 during mid-day trading on Monday, reaching $589.01. The company had a trading volume of 1,288,936 shares, compared to its average volume of 1,623,800. The company has a market capitalization of $184.90 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 0.85 and a beta of 1.38. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50 day simple moving average is $578.26 and its 200 day simple moving average is $521.69. The Goldman Sachs Group has a 1-year low of $372.07 and a 1-year high of $612.73.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results 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 net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the firm posted $5.47 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Analysts expect that The Goldman Sachs Group will post 37.06 EPS for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the 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 completion of 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 represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares in the company, valued at approximately $72,015,903.53. The trade was a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock worth $13,717,979 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of The Goldman Sachs Group

Several hedge funds and other institutional investors have recently modified their holdings of GS. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $27,000. Quest Partners LLC boosted its stake in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the period. West Branch Capital LLC purchased a new position in The Goldman Sachs Group during the 3rd quarter valued at about $30,000. Finally, DT Investment Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 110.0% in the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after buying an additional 33 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

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.