JPMorgan Chase & Co. Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

The Goldman Sachs Group (NYSE:GS) had its price objective lifted by analysts at JPMorgan Chase & Co. from $550.00 to $605.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 0.15% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Oppenheimer cut their price target on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Evercore ISI upped their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Finally, UBS Group reaffirmed a “neutral” rating and set a $610.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $572.75.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $605.89 on Thursday. The Goldman Sachs Group has a twelve month low of $372.07 and a twelve month high of $612.73. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $190.19 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.66 and a beta of 1.38. The firm has a 50-day moving average of $585.67 and a two-hundred day moving average of $527.58.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same period in the prior year, the company earned $5.48 EPS. The Goldman Sachs Group’s revenue was up 22.5% on a year-over-year basis. As a group, analysts expect that The Goldman Sachs Group will post 37.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the transaction, the director now owns 608,425 shares in the company, valued at $372,404,774. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,940 shares of company stock worth $12,656,179. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GS. Cadinha & Co. LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $18,459,000. Aaron Wealth Advisors LLC boosted its position in shares of The Goldman Sachs Group by 8.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,642 shares of the investment management company’s stock valued at $940,000 after acquiring an additional 130 shares during the period. Sandy Cove Advisors LLC boosted its position in shares of The Goldman Sachs Group by 9.5% in the fourth quarter. Sandy Cove Advisors LLC now owns 850 shares of the investment management company’s stock valued at $487,000 after acquiring an additional 74 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $340,000. Finally, Smith Salley Wealth Management bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $208,000. 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.