Goldman Sachs Group (NYSE:GS) had its target price hoisted by investment analysts at Morgan Stanley from $294.00 to $297.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the investment management company’s stock. Morgan Stanley’s target price points to a potential upside of 14.21% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on GS. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $271.00 price objective on the stock in a research note on Friday, October 20th. Vertical Group upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Bank of America lifted their price objective on shares of Goldman Sachs Group from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Buckingham Research restated a “neutral” rating and set a $250.00 price objective (up from $243.00) on shares of Goldman Sachs Group in a research note on Wednesday, October 18th. Finally, Barclays lifted their price objective on shares of Goldman Sachs Group from $262.00 to $308.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $256.20.
Goldman Sachs Group (NYSE:GS) traded down $12.19 during mid-day trading on Friday, reaching $260.04. The company’s stock had a trading volume of 5,904,315 shares, compared to its average volume of 3,350,000. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $98,090.00, a PE ratio of 29.99, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37. Goldman Sachs Group has a 12 month low of $209.62 and a 12 month high of $273.79.
In related news, insider David M. Solomon sold 21,252 shares of Goldman Sachs Group stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $271.65, for a total value of $5,773,105.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Pablo J. Salame sold 10,000 shares of Goldman Sachs Group stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $270.42, for a total value of $2,704,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,414 shares of company stock worth $39,361,490. 2.57% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GS. Northwest Quadrant Wealth Management LLC purchased a new position in Goldman Sachs Group during the 2nd quarter valued at about $407,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Goldman Sachs Group during the 2nd quarter valued at about $101,000. Sterling Investment Advisors Ltd. grew its stake in Goldman Sachs Group by 35.7% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock valued at $105,000 after acquiring an additional 125 shares in the last quarter. Cerebellum GP LLC purchased a new position in Goldman Sachs Group during the 4th quarter valued at about $122,000. Finally, Gs Investments Inc. purchased a new position in Goldman Sachs Group during the 2nd quarter valued at about $111,000. 73.38% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: This report was reported by American Market News and is the sole property of of American Market News. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2018/02/02/goldman-sachs-group-gs-pt-raised-to-297-00-at-morgan-stanley.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.
