HSBC Raises The Goldman Sachs Group (NYSE:GS) Price Target to $460.00

The Goldman Sachs Group (NYSE:GS) had its price target boosted by investment analysts at HSBC from $432.00 to $460.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the investment management company’s stock. HSBC’s price objective points to a potential upside of 10.79% from the stock’s previous close.

GS has been the subject of several other reports. Edward Jones initiated coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and raised their target price for the company from $410.00 to $430.00 in a research report on Thursday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $390.00 target price on shares of The Goldman Sachs Group in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $440.00 target price on shares of The Goldman Sachs Group in a research report on Wednesday, January 17th. Finally, Morgan Stanley raised The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $411.10.

The Goldman Sachs Group Trading Up 2.2 %

NYSE GS opened at $415.21 on Thursday. The firm has a market capitalization of $134.75 billion, a P/E ratio of 18.20, a PEG ratio of 1.56 and a beta of 1.42. The business has a fifty day simple moving average of $387.82 and a 200 day simple moving average of $357.13. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $416.76. 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 (NYSE:GS) last released its quarterly earnings results on Tuesday, January 16th. The investment management company reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $1.86. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The business had revenue of $11.32 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the firm posted $3.32 EPS. The Goldman Sachs Group’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that The Goldman Sachs Group will post 33.13 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,907 shares of company stock worth $15,080,021. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of large investors have recently bought and sold shares of GS. HighPoint Advisor Group LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $2,337,000. Fairman Group LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $124,000. Napatree Capital LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $991,000. Quadrature Capital Ltd increased its stake in shares of The Goldman Sachs Group by 12.0% during the fourth quarter. Quadrature Capital Ltd now owns 93,677 shares of the investment management company’s stock valued at $36,152,000 after buying an additional 10,049 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $347,000. 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.