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

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

Other research analysts also recently issued reports about the stock. Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $333.00 to $449.00 in a research note on Tuesday, January 30th. HSBC lifted their price target on shares of The Goldman Sachs Group from $432.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. JMP Securities lifted their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Edward Jones initiated coverage on shares of The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Finally, Daiwa Capital Markets raised shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $428.43.

The Goldman Sachs Group Price Performance

GS stock opened at $400.75 on Tuesday. The firm has a 50 day moving average of $395.09 and a 200-day moving average of $364.56. 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 has a 12 month low of $289.36 and a 12 month high of $419.20. The firm has a market capitalization of $130.06 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43.

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

Insider Buying and Selling

In related news, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total value of $1,129,170.00. Following the transaction, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other The Goldman Sachs Group news, 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 owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The disclosure for this sale can be found here. Insiders have sold a total of 38,907 shares of company stock worth $15,080,021 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trueblood Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $989,000. TBH Global Asset Management LLC increased its holdings in The Goldman Sachs Group by 2.0% in the 3rd quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock worth $1,190,000 after acquiring an additional 72 shares in the last quarter. Congress Wealth Management LLC DE increased its holdings in The Goldman Sachs Group by 27,076.5% in the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after acquiring an additional 650,918 shares in the last quarter. Syon Capital LLC purchased a new stake in The Goldman Sachs Group in the 3rd quarter worth approximately $1,395,000. Finally, Crestwood Advisors Group LLC increased its holdings in The Goldman Sachs Group by 5.6% in the 4th quarter. Crestwood Advisors Group LLC now owns 11,541 shares of the investment management company’s stock worth $4,452,000 after acquiring an additional 617 shares in 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.