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

The Goldman Sachs Group (NYSE:GS) had its price target lifted by equities researchers at HSBC from $432.00 to $460.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the investment management company’s stock. HSBC’s price target would indicate a potential upside of 10.79% from the stock’s current price.

GS has been the topic of several other reports. Oppenheimer cut their target price on The Goldman Sachs Group from $506.00 to $446.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $390.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday. Edward Jones initiated coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $440.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, January 17th. Finally, Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $333.00 to $449.00 in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $411.10.

The Goldman Sachs Group Stock Up 2.2 %

Shares of NYSE:GS opened at $415.21 on Thursday. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $416.76. The firm has a market capitalization of $134.75 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.56 and a beta of 1.42. The stock has a 50 day moving average price of $387.82 and a 200-day moving average price of $357.13. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, January 16th. The investment management company reported $5.48 earnings per share 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 company had revenue of $11.32 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the company earned $3.32 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that The Goldman Sachs Group will post 33.13 EPS for the current fiscal 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 stock was 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 in the company, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at $4,357,659.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,907 shares of company stock worth $15,080,021. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GS. First United Bank & Trust bought a new position in The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Pineridge Advisors LLC bought a new position in The Goldman Sachs Group in the fourth quarter worth approximately $29,000. BKM Wealth Management LLC bought a new position in The Goldman Sachs Group in the fourth quarter worth approximately $32,000. Cambridge Trust Co. raised 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 worth $29,000 after buying an additional 41 shares in the last quarter. Finally, Truvestments Capital LLC raised its stake in The Goldman Sachs Group by 88.0% in 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 in the last quarter. Hedge funds and other 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.