The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Citigroup Analyst Says

The Goldman Sachs Group (NYSE:GS) had its price objective raised by research analysts at Citigroup from $485.00 to $585.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Citigroup’s target price would indicate a potential downside of 1.11% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Oppenheimer lifted their price target on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. JMP Securities lifted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $542.00.

The Goldman Sachs Group Price Performance

NYSE GS traded up $9.62 on Thursday, reaching $591.55. 267,275 shares of the company’s stock traded hands, compared to its average volume of 2,212,873. The Goldman Sachs Group has a 12 month low of $334.87 and a 12 month high of $607.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a 50-day simple moving average of $524.58 and a 200 day simple moving average of $491.95. The stock has a market cap of $185.69 billion, a PE ratio of 17.36, a P/E/G ratio of 0.84 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the business earned $5.47 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts predict that The Goldman Sachs Group will post 37.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GS. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. Semmax Financial Advisors Inc. bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Finally, Quest Partners LLC lifted its holdings in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

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.