Bank of America Increases The Goldman Sachs Group (NYSE:GS) Price Target to $575.00

The Goldman Sachs Group (NYSE:GS) had its price target upped by Bank of America from $563.00 to $575.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the investment management company’s stock. Bank of America‘s price target would suggest a potential upside of 8.70% from the stock’s current price.

Several other research firms also recently commented on GS. JMP Securities lifted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup lifted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $528.97 on Wednesday. The stock has a market cap of $170.57 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $540.51. The business has a 50-day simple moving average of $497.39 and a two-hundred day simple moving average of $468.25. 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 posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $5.47 EPS. On average, analysts expect that The Goldman Sachs Group will post 35.52 EPS for the current year.

Institutional Trading of The Goldman Sachs Group

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $1,903,374,000. AMF Tjanstepension AB grew its position in shares of The Goldman Sachs Group by 1,102.4% during the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after buying an additional 743,402 shares during the period. 1832 Asset Management L.P. raised its position in shares of The Goldman Sachs Group by 7,932.6% during the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after buying an additional 356,512 shares during the period. Finally, Swedbank AB bought a new stake in shares of The Goldman Sachs Group in the first quarter worth $137,134,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.