The Goldman Sachs Group (NYSE:GS) Price Target Raised to $720.00 at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its price objective boosted by equities researchers at Wells Fargo & Company from $680.00 to $720.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 12.01% from the stock’s current price.

Several other equities analysts have also commented on the company. Hsbc Global Res lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. UBS Group increased their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Finally, Citigroup increased their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $593.56.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $642.81 on Wednesday. The stock’s fifty day moving average is $610.78 and its two-hundred day moving average is $556.55. The firm has a market capitalization of $200.58 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 0.93 and a beta of 1.39. 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 Goldman Sachs Group has a fifty-two week low of $381.26 and a fifty-two week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The company had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.48 earnings per share. On average, research analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares in the company, valued at $2,255,506.25. This represents a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the completion of the sale, the chief accounting officer now owns 6,455 shares of the company’s stock, valued at $4,047,349.55. This trade represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock valued at $19,692,543 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors have recently added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its position in The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after purchasing an additional 7,475,140 shares during the period. Geode Capital Management LLC boosted its stake in shares of The Goldman Sachs Group by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company’s stock worth $3,761,576,000 after acquiring an additional 161,500 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of The Goldman Sachs Group by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company’s stock worth $3,524,669,000 after acquiring an additional 112,696 shares in the last quarter. FMR LLC boosted its stake in shares of The Goldman Sachs Group by 23.7% during the 4th quarter. FMR LLC now owns 3,586,348 shares of the investment management company’s stock worth $2,053,614,000 after acquiring an additional 687,711 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of The Goldman Sachs Group by 15.0% during the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company’s stock worth $1,885,454,000 after acquiring an additional 428,502 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.