The Goldman Sachs Group (NYSE:GS) Raised to Buy at Wall Street Zen

The Goldman Sachs Group (NYSE:GS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other research analysts have also recently commented on the company. BNP Paribas Exane decreased their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Morgan Stanley set a $1,145.00 price objective on shares of The Goldman Sachs Group in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays raised their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an “overweight” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $1,061.43.

The Goldman Sachs Group Stock Down 2.7%

Shares of GS opened at $1,066.28 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 2.83. The Goldman Sachs Group has a 12 month low of $691.88 and a 12 month high of $1,153.99. The firm’s 50 day moving average is $1,035.20 and its 200-day moving average is $945.44. The stock has a market capitalization of $314.56 billion, a PE ratio of 16.46, a P/E/G ratio of 1.24 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter in the prior year, the business posted $10.91 earnings per share. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. Equities research analysts forecast that The Goldman Sachs Group will post 64.34 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alex S. Golten sold 1,116 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total value of $1,044,776.88. Following the sale, the insider owned 2,578 shares in the company, valued at approximately $2,413,472.04. This trade represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,566 shares of company stock valued at $30,712,978 in the last quarter. 0.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently modified their holdings of the business. Audent Global Asset Management LLC lifted its holdings in The Goldman Sachs Group by 10.1% in the fourth quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after buying an additional 479 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in The Goldman Sachs Group by 3.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 215,482 shares of the investment management company’s stock worth $189,409,000 after acquiring an additional 8,154 shares during the period. Oak Grove Capital LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter worth about $1,890,000. Nomura Asset Management Co. Ltd. raised its position in shares of The Goldman Sachs Group by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company’s stock worth $124,809,000 after acquiring an additional 3,653 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of The Goldman Sachs Group by 35.0% in the 4th quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company’s stock worth $10,499,000 after acquiring an additional 3,098 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.