The Goldman Sachs Group (NYSE:GS) PT Raised to $577.00 at Oppenheimer

The Goldman Sachs Group (NYSE:GS) had its price target increased by equities research analysts at Oppenheimer from $548.00 to $577.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s price target would suggest a potential upside of 18.70% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Morgan Stanley increased their target price on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted 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 research report on Thursday, June 27th. Citigroup upped their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. BMO Capital Markets lifted their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, Barclays increased their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six equities research 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.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $497.56.

The Goldman Sachs Group Trading Down 1.2 %

NYSE:GS opened at $486.10 on Wednesday. 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 business’s 50 day moving average is $492.37 and its two-hundred day moving average is $460.86. 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 cap of $156.75 billion, a PE ratio of 18.98, a P/E/G ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. On average, analysts predict that The Goldman Sachs Group will post 35.43 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds have recently bought and sold shares of GS. Empowered Funds LLC lifted its position in shares of The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares in the last quarter. Duality Advisers LP purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $1,388,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after acquiring an additional 2,103 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in The Goldman Sachs Group during the first quarter valued at $1,357,000. 71.21% of the stock is owned by hedge funds and other 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.