Keefe, Bruyette & Woods Raises The Goldman Sachs Group (NYSE:GS) Price Target to $690.00

The Goldman Sachs Group (NYSE:GS) had its target price increased by research analysts at Keefe, Bruyette & Woods from $686.00 to $690.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 10.08% from the company’s previous close.

Several other research analysts have also recently weighed in on GS. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Oppenheimer reduced their price objective on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Evercore ISI raised their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $589.19.

The Goldman Sachs Group Stock Up 2.3 %

The Goldman Sachs Group stock opened at $626.84 on Thursday. The Goldman Sachs Group has a 12 month low of $372.07 and a 12 month high of $627.00. The stock has a fifty day simple moving average of $586.47 and a two-hundred day simple moving average of $528.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market cap of $196.77 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.66 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same period last year, the firm posted $5.48 earnings per share. The Goldman Sachs Group’s revenue was up 22.5% compared to the same quarter last year. Equities analysts predict that The Goldman Sachs Group will post 37.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the transaction, the chief executive officer now owns 117,883 shares in the company, valued at approximately $72,015,903.53. This represents a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the transaction, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,940 shares of company stock worth $12,656,179. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Hedge funds have recently bought and sold shares of the stock. Semmax Financial Advisors Inc. bought a new stake in shares of The Goldman Sachs Group in the second quarter worth about $26,000. Quest Partners LLC grew its holdings in The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. West Branch Capital LLC bought a new stake in The Goldman Sachs Group in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC raised its holdings in shares of The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after acquiring an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at approximately $34,000. 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.