Oppenheimer Raises The Goldman Sachs Group (NYSE:GS) Price Target to $517.00

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by stock analysts at Oppenheimer from $479.00 to $517.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s target price would indicate a potential upside of 21.21% from the stock’s current price.

A number of other brokerages have also recently commented on GS. Barclays increased their target price on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. UBS Group increased their target price on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada increased their target price on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 16th. Bank of America increased their target price on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, HSBC increased their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $437.04.

The Goldman Sachs Group Stock Performance

GS opened at $426.54 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The company has a market cap of $138.43 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.36 and a beta of 1.43. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $433.43. The firm’s fifty day simple moving average is $402.81 and its two-hundred day simple moving average is $372.96.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $8.79 earnings per share. Equities analysts anticipate that The Goldman Sachs Group will post 35.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the transaction, the treasurer now owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the transaction, the treasurer now owns 18,408 shares of the company’s stock, valued at $7,190,901.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders sold a total of 29,330 shares of company stock valued at $11,713,578 over the last 90 days. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors boosted its stake in shares of The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after purchasing an additional 338,181 shares during the period. Morgan Stanley lifted its stake in The Goldman Sachs Group by 7.8% in the third quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after acquiring an additional 412,383 shares during the last quarter. Fisher Asset Management LLC lifted its stake in The Goldman Sachs Group by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock worth $2,128,693,000 after acquiring an additional 152,474 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in The Goldman Sachs Group by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock worth $2,004,153,000 after acquiring an additional 27,524 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in The Goldman Sachs Group by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after acquiring an additional 274,989 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.