The Goldman Sachs Group (NYSE:GS) Price Target Raised to $680.00

The Goldman Sachs Group (NYSE:GS) had its price target boosted by equities research analysts at Wells Fargo & Company from $600.00 to $680.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 14.57% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Bank of America lifted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JMP Securities lifted their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group lifted their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Stock Up 0.8 %

The Goldman Sachs Group stock opened at $593.54 on Friday. The company’s 50-day moving average price is $518.10 and its two-hundred day moving average price is $488.78. The stock has a market cap of $186.32 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group has a 52 week low of $334.55 and a 52 week high of $607.15. 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 Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.47 earnings per share. On average, analysts expect that The Goldman Sachs Group will post 37.15 EPS for the current fiscal year.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,390 shares of company stock worth $6,656,119. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Brophy Wealth Management LLC acquired a new stake in shares of The Goldman Sachs Group in the third quarter valued at about $536,000. M&T Bank Corp boosted its stake in The Goldman Sachs Group by 0.6% during the 3rd quarter. M&T Bank Corp now owns 27,271 shares of the investment management company’s stock valued at $13,502,000 after purchasing an additional 157 shares during the period. Continuum Advisory LLC grew its holdings in The Goldman Sachs Group by 27.4% in the 3rd quarter. Continuum Advisory LLC now owns 288 shares of the investment management company’s stock valued at $143,000 after buying an additional 62 shares during the last quarter. Gordian Capital Singapore Pte Ltd increased its position in The Goldman Sachs Group by 93.6% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 4,259 shares of the investment management company’s stock worth $2,109,000 after buying an additional 2,059 shares during the period. Finally, EWA LLC lifted its holdings in shares of The Goldman Sachs Group by 10.7% during the third quarter. EWA LLC now owns 485 shares of the investment management company’s stock worth $240,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds 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.