The Goldman Sachs Group (NYSE:GS) Rating Increased to Buy at Argus

The Goldman Sachs Group (NYSE:GS) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a $465.00 target price on the investment management company’s stock. Argus’ price target indicates a potential upside of 16.03% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Evercore ISI lifted their price target on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Barclays lifted their price target on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $421.00 to $424.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Finally, BMO Capital Markets lifted their price objective on shares of The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus price target of $428.43.

The Goldman Sachs Group Stock Performance

GS opened at $400.75 on Tuesday. 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 stock has a market cap of $130.06 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $419.20. The business’s 50 day moving average is $395.09 and its 200-day moving average is $364.56.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.54 by $3.04. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.79 earnings per share. On average, analysts predict that The Goldman Sachs Group will post 32.76 earnings per share for the current year.

Insider Activity at The Goldman Sachs Group

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

Institutional Trading of The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First United Bank & Trust bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $26,000. Versant Capital Management Inc increased its stake in The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares during the period. Cambridge Trust Co. increased its stake in The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 41 shares during the period. Pineridge Advisors LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $29,000. Finally, Truvestments Capital LLC grew its stake in The Goldman Sachs Group by 88.0% during the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after buying an additional 44 shares during the last quarter. Institutional investors 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.