The Goldman Sachs Group (NYSE:GS) Given New $720.00 Price Target at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its target price increased by investment analysts at Wells Fargo & Company from $680.00 to $720.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.23% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Citigroup upped their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $686.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Barclays upped their price objective on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $593.56.

The Goldman Sachs Group Trading Up 1.6 %

Shares of GS stock opened at $671.44 on Wednesday. The firm has a 50-day moving average price of $608.24 and a 200 day moving average price of $555.16. The Goldman Sachs Group has a twelve month low of $380.85 and a twelve month high of $672.19. The company has a market capitalization of $208.45 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.92 and a beta of 1.39. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the prior year, the company posted $5.48 EPS. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. Research analysts forecast that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the transaction, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. This represents a 23.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now directly owns 117,883 shares in the company, valued at approximately $72,015,903.53. This represents a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock valued at $19,692,543 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently made changes to their positions in GS. Stephens Consulting LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $26,000. Asset Planning Inc acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $29,000. Curio Wealth LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $30,000. DT Investment Partners LLC raised its position in shares of The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 33 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $31,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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.