Goldman Sachs Group (NYSE:GS) had its price target lifted by equities research analysts at Oppenheimer from $301.00 to $313.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s price target indicates a potential upside of 24.72% from the company’s previous close.
GS has been the topic of several other reports. Royal Bank of Canada upped their price target on shares of Goldman Sachs Group to $265.00 and gave the company a “sector perform” rating in a report on Thursday. BMO Capital Markets lowered their price target on shares of Goldman Sachs Group to $221.00 and set a “market perform” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Goldman Sachs Group in a report on Tuesday, January 9th. Vining Sparks reaffirmed a “hold” rating and issued a $270.00 price target on shares of Goldman Sachs Group in a report on Monday, January 8th. Finally, Instinet reaffirmed an “outperform” rating and issued a $225.00 price target (down from $238.00) on shares of Goldman Sachs Group in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $253.80.
Shares of Goldman Sachs Group (NYSE:GS) traded down $2.68 on Thursday, hitting $250.97. 4,979,989 shares of the stock were exchanged, compared to its average volume of 3,518,783. The stock has a market capitalization of $94,670.00, a price-to-earnings ratio of 28.95, a PEG ratio of 0.94 and a beta of 1.47. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.82. Goldman Sachs Group has a 12-month low of $209.62 and a 12-month high of $262.14.
In related news, insider Harvey M. Schwartz sold 25,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $245.00, for a total transaction of $6,125,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.38, for a total transaction of $4,956,873.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,226 shares of company stock valued at $31,247,168. Insiders own 2.57% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Goldman Sachs Group by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 24,072,777 shares of the investment management company’s stock worth $5,341,749,000 after purchasing an additional 304,400 shares during the last quarter. Capital World Investors grew its stake in Goldman Sachs Group by 10.5% during the 2nd quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock valued at $1,697,442,000 after acquiring an additional 726,582 shares in the last quarter. Capital Research Global Investors grew its stake in Goldman Sachs Group by 4.0% during the 2nd quarter. Capital Research Global Investors now owns 6,918,409 shares of the investment management company’s stock valued at $1,535,195,000 after acquiring an additional 265,784 shares in the last quarter. Greenhaven Associates Inc. grew its stake in Goldman Sachs Group by 2.5% during the 2nd quarter. Greenhaven Associates Inc. now owns 3,793,287 shares of the investment management company’s stock valued at $841,730,000 after acquiring an additional 91,200 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Goldman Sachs Group by 10.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,618,896 shares of the investment management company’s stock valued at $858,366,000 after acquiring an additional 356,956 shares in the last quarter. Hedge funds and other institutional investors own 73.28% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Oppenheimer Increases Goldman Sachs Group (GS) Price Target to $313.00” was first reported by American Banking and Market News and is the sole property of of American Banking and Market News. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.americanbankingnews.com/2018/01/18/oppenheimer-increases-goldman-sachs-group-gs-price-target-to-313-00.html.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
