The Goldman Sachs Group (NYSE:GS) Upgraded at HSBC

The Goldman Sachs Group (NYSE:GS) was upgraded by investment analysts at HSBC from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on GS. Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Dbs Bank upped their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their price objective on The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,062.86.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $1,062.20 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group has a 12-month low of $705.55 and a 12-month high of $1,153.99. The firm has a fifty day moving average of $1,055.78 and a 200-day moving average of $956.78. The firm has a market capitalization of $313.36 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter last year, the business posted $10.91 EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. On average, equities research analysts forecast that The Goldman Sachs Group will post 68.89 earnings per share for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $2,515,830,000. Corient Private Wealth LLC grew its stake in shares of The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after acquiring an additional 2,448,767 shares in the last quarter. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group during the first quarter worth about $2,024,921,000. Bank of America Corp DE raised its stake in 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 worth $5,460,875,000 after purchasing an additional 476,977 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in The Goldman Sachs Group by 428.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after purchasing an additional 450,984 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group News Summary

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs’ latest quarterly results were substantially stronger than expected, with earnings per share of $20.98 versus a $14.47 consensus estimate and revenue of $20.34 billion, up 39.4% year over year. The results reinforce the outlook for investment banking, trading and asset-management revenue.
• Positive Sentiment: Bank of America reportedly believes Goldman Sachs shares have further upside after doubling from their “Liberation Day” lows, supporting continued investor confidence in the firm’s earnings recovery and business mix. Goldman Sachs stock doubles from Liberation Day lows
• Positive Sentiment: Goldman Sachs is serving as a joint book-running manager on Braveheart Bio’s upsized $382.5 million IPO and previously helped lead Attovia Therapeutics’ $289 million offering. A healthy IPO pipeline and improving equity issuance activity can boost Goldman’s underwriting fees. Braveheart Bio Prices Upsized IPO
• Positive Sentiment: Analysts and market commentary continue to highlight Goldman’s momentum, including strong trading, mergers and acquisitions, blockbuster IPO activity and the potential for artificial intelligence to improve productivity and expand fee-based revenue. Goldman’s AI Strategy

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.