UBS Group Increases The Goldman Sachs Group (NYSE:GS) Price Target to $560.00

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by UBS Group from $550.00 to $560.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the investment management company’s stock.

GS has been the subject of several other research reports. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a strong-buy rating to a hold rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an outperform rating in a report on Thursday, June 27th. Evercore ISI increased their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an outperform rating in a report on Tuesday, July 16th. Wolfe Research raised shares of The Goldman Sachs Group to a hold rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of Moderate Buy and a consensus price target of $504.75.

The Goldman Sachs Group Stock Down 0.3 %

GS opened at $503.74 on Tuesday. The firm has a 50-day simple moving average of $492.06 and a two-hundred day simple moving average of $464.10. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $517.26. The company has a market capitalization of $159.08 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. Analysts forecast that The Goldman Sachs Group will post 35.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors have recently modified their holdings of the stock. Waldron Private Wealth LLC raised its stake in The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares in the last quarter. Fulton Bank N.A. raised its stake in The Goldman Sachs Group by 0.8% in the second quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock worth $1,233,000 after buying an additional 22 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its stake in The Goldman Sachs Group by 1.1% in the second quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock worth $893,000 after buying an additional 22 shares in the last quarter. Jacobi Capital Management LLC raised its stake in The Goldman Sachs Group by 1.5% in the first quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after buying an additional 23 shares in the last quarter. Finally, Mayflower Financial Advisors LLC raised its stake in The Goldman Sachs Group by 1.2% in the second quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock worth $913,000 after buying an additional 23 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

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.