Goldman Sachs Group (GS) Rating Reiterated by Bank of America

Goldman Sachs Group (NYSE:GS)‘s stock had its “buy” rating reissued by stock analysts at Bank of America in a report released on Monday. They currently have a $300.00 price objective on the investment management company’s stock, up from their prior price objective of $249.30. Bank of America’s price objective would suggest a potential upside of 20.34% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Vetr upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $246.36 price target on the stock in a research report on Thursday. Morgan Stanley raised their price objective on Goldman Sachs Group from $294.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Wells Fargo & Co reaffirmed an “outperform” rating and set a $320.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $260.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, January 18th. Finally, Barclays reaffirmed an “equal weight” rating and set a $289.00 price objective (down from $308.00) on shares of Goldman Sachs Group in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $256.75.

Shares of Goldman Sachs Group (GS) opened at $249.30 on Monday. Goldman Sachs Group has a 12-month low of $209.62 and a 12-month high of $273.79. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $94,036.34, a PE ratio of 28.95, a price-to-earnings-growth ratio of 0.90 and a beta of 1.37.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 17th. The investment management company reported $5.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.90 by $0.78. Goldman Sachs Group had a return on equity of 11.47% and a net margin of 13.36%. The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter last year, the business posted $5.08 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. equities research analysts forecast that Goldman Sachs Group will post 21.56 EPS for the current fiscal year.

In related news, insider R. Martin Chavez sold 11,829 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $259.22, for a total value of $3,066,313.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Viniar sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.02, for a total value of $5,950,500.00. The disclosure for this sale can be found here. Insiders sold 167,843 shares of company stock worth $41,855,427 over the last three months. 2.57% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its position in Goldman Sachs Group by 4,096.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock valued at $549,415,000 after acquiring an additional 2,416,970 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Goldman Sachs Group by 47.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock valued at $799,472,000 after acquiring an additional 1,152,869 shares in the last quarter. Balyasny Asset Management LLC boosted its position in Goldman Sachs Group by 1,654.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,034,680 shares of the investment management company’s stock valued at $229,595,000 after acquiring an additional 975,690 shares in the last quarter. Jennison Associates LLC boosted its position in Goldman Sachs Group by 15.1% during the 4th quarter. Jennison Associates LLC now owns 5,538,407 shares of the investment management company’s stock valued at $1,410,965,000 after acquiring an additional 727,698 shares in the last quarter. Finally, Capital World Investors boosted its position 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. 73.28% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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