Citigroup Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $425.00

The Goldman Sachs Group (NYSE:GS) had its target price increased by analysts at Citigroup from $410.00 to $425.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. Citigroup’s price objective points to a potential upside of 6.62% from the stock’s current price.

A number of other equities analysts have also recently weighed in on GS. Evercore ISI upped their price target on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday. HSBC lifted their target price on shares of The Goldman Sachs Group from $432.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Bank of America raised their price objective on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Edward Jones assumed coverage on shares of The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $434.38.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded down $2.28 during trading on Tuesday, reaching $398.60. 916,820 shares of the company traded hands, compared to its average volume of 2,300,870. The stock has a market cap of $129.36 billion, a P/E ratio of 17.47, a PEG ratio of 1.51 and a beta of 1.43. The firm’s fifty day simple moving average is $395.09 and its 200 day simple moving average is $364.56. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.29. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $419.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, April 16th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The Goldman Sachs Group’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $8.79 earnings per share. As a group, research analysts anticipate that The Goldman Sachs Group will post 32.76 earnings per share for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the sale, the insider now directly owns 10,121 shares in the company, valued at $3,809,443.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total value of $1,129,170.00. Following the sale, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The disclosure for this sale can be found here. Insiders sold a total of 38,907 shares of company stock worth $15,080,021 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $1,903,374,000. Norges Bank acquired a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $1,120,119,000. Morgan Stanley grew its stake in The Goldman Sachs Group by 40.0% in the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after acquiring an additional 1,696,350 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in The Goldman Sachs Group by 168,772.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after acquiring an additional 1,243,852 shares during the last quarter. Finally, Congress Wealth Management LLC DE lifted its stake in shares of The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after purchasing an additional 650,918 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.