The Goldman Sachs Group (NYSE:GS – Get Free Report) had its price target increased by analysts at Wells Fargo & Company from $1,000.00 to $1,195.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.58% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Dbs Bank boosted their price target on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. HSBC lifted their price target on The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Rothschild & Co Redburn upped their price objective on The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. upped their price objective on The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. Finally, Bank of America cut their target price on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Nine equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $958.41.
Check Out Our Latest Analysis on GS
The Goldman Sachs Group Trading Down 1.3%
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $14.12 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group will post 59.6 EPS for the current year.
Insiders Place Their Bets
In related news, insider Alex S. Golten sold 1,116 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the transaction, the insider directly owned 2,578 shares of the company’s stock, valued at $2,413,472.04. This represents a 30.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,681 shares of company stock valued at $31,737,875 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.
Institutional Trading of The Goldman Sachs Group
A number of institutional investors have recently bought and sold shares of GS. Vanguard Group Inc. increased its stake in The Goldman Sachs Group by 1.5% during the 4th 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 in the last quarter. State Street Corp increased its position in shares of The Goldman Sachs Group by 2.1% in the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock valued at $17,197,444,000 after acquiring an additional 394,198 shares during the period. Fisher Asset Management LLC raised its stake in The Goldman Sachs Group by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after acquiring an additional 110,134 shares during the last quarter. Geode Capital Management LLC lifted its position in The Goldman Sachs Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock worth $5,896,795,000 after acquiring an additional 45,266 shares during the period. Finally, Bank of America Corp DE lifted its position in The Goldman Sachs Group by 8.0% during the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock worth $5,460,875,000 after acquiring an additional 476,977 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs’ equities trading revenue is reported to be on track to top $5 billion, which would mark a new record and reinforce expectations for strong second-quarter trading results. Goldman Equities Haul to Rip Past 5 Billion Toward New Record
- Positive Sentiment: Broader financial stocks advanced in afternoon trading, suggesting a favorable sector backdrop that can help support Goldman Sachs shares. Sector Update: Financial Stocks Advance Late Afternoon
- Neutral Sentiment: Goldman Sachs analysts warned that assumptions behind the AI trade may be stretching reality, a cautious macro view that is more market commentary than a direct earnings driver. Investor assumptions about the AI trade are starting to stretch reality, Goldman Sachs says
- Neutral Sentiment: Goldman also cut its U.S. recession probability to 15% after easing Iran-related tensions, which is constructive for the economic outlook but not an immediate catalyst for GS shares. Goldman cuts U.S. recession risk to 15% after Iran deal
- Negative Sentiment: A separate report said Goldman Sachs stock slipped despite strong equity activity, indicating traders may be taking profits or looking past the trading-business strength for now. Goldman Sachs Stock GS Slips Despite Reports of Strong Equity Activity
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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