The Goldman Sachs Group (NYSE:GS) PT Raised to $570.00 at Morgan Stanley

The Goldman Sachs Group (NYSE:GS) had its target price hoisted by equities researchers at Morgan Stanley from $560.00 to $570.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Morgan Stanley’s price target would indicate a potential upside of 9.07% from the stock’s previous close.

GS has been the subject of a number of other reports. UBS Group upped their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets upped their price objective 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. Citigroup upped their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Evercore ISI upped their price objective on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Five equities research 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 company has an average rating of “Moderate Buy” and an average target price of $513.69.

The Goldman Sachs Group Price Performance

GS stock opened at $522.60 on Wednesday. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $540.51. 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 company has a market capitalization of $168.52 billion, a PE ratio of 20.41, a P/E/G ratio of 0.77 and a beta of 1.36. The stock’s 50 day moving average is $495.39 and its two-hundred day moving average is $467.39.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the business earned $5.47 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts predict that The Goldman Sachs Group will post 35.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Transform Wealth LLC raised its stake in shares of The Goldman Sachs Group by 1.3% in the third quarter. Transform Wealth LLC now owns 31,065 shares of the investment management company’s stock valued at $15,381,000 after purchasing an additional 399 shares in the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of The Goldman Sachs Group by 2.4% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,643 shares of the investment management company’s stock valued at $1,804,000 after purchasing an additional 84 shares during the period. SeaCrest Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 3.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,894 shares of the investment management company’s stock worth $938,000 after buying an additional 65 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its position in shares of The Goldman Sachs Group by 6.9% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 11,164 shares of the investment management company’s stock worth $5,527,000 after buying an additional 719 shares during the period. Finally, Magnus Financial Group LLC grew its position in The Goldman Sachs Group by 8.0% in the third quarter. Magnus Financial Group LLC now owns 3,774 shares of the investment management company’s stock valued at $1,868,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.